Telefonica, one of the world's leaders in the telecommunications sector, and Trivnet, provider of the most powerful transaction management platform for delivering secured Mobile Financial Services (MFS), announced today that Trivnet has been selected to provide MFS to Telefonica's Movistar customers in Latin America. A wide range of services, including person-to-person mobile money transfer, mobile commerce, bill payment and mobile banking will be offered.

"We chose Trivnet as our provider of Mobile Financial Services based on their superior technology and expertise," commented Jaime Grau, Transactional Business Director at Telefonica Latinoamerica. "We also wanted to work with partner which understands the unique characteristics of Latin America. Trivnet proved their capability to work closely with us to create the optimal MFS ecosystem which includes banking, merchant, government agency and bill payment partners."

"Trivnet is proud to support Telefonica in its Latin American rollout of Mobile Financial Services," commented Amit Mattatia, CEO of Trivnet. "We are reinforcing our leadership position as a global supplier to both emerging and developed market MFS, as proven within the Telefonica Group and in previous European and Latin American deployments outside of this group. We are thrilled to have the opportunity to provide access to much needed MFS to a greater number of people".

About Telefonica http://www.telefonica.com

Telefonica is one of the world's largest telecommunications operators, offering fixed and mobile telephony, while its broadband business is the key growth driver underpinning both. It operates in 25 countries and has a global customer base of 268 million. Telefonica's growth strategy is focused on the markets in which it has a strong foothold: Spain,Europe, and Latin America. Telefonica investors include more than 1.5 million direct shareholders.

Telefonica Latinoamerica offers fixed, mobile and broadband services in Latin America, achieving a presence in all of the key Latin American markets: Argentina, Brazil, Chile, Colombia, Ecuador, El Salvador, Guatemala, Mexico, Nicaragua,Panama, Peru, Uruguay, and Venezuela.