February 22, 2000

Mobile Money: Pixo and PayPal.com Team to Send Money Via Wireless Phones

CUPERTINO, Calif.--(BUSINESS WIRE)--Feb. 22, 2000--Pixo, Inc.™, a leading provider of mobile commerce solutions, today announced that it is collaborating with PayPal.com, the leading person-to-person online payment service, to provide a new way of transferring money over the Internet using wireless phones.

This collaboration lets users send money securely and easily over the Internet to anyone with an email address from any Pixo-enabled smart phone.

Current online payment systems often require users to know the bank account numbers of the recipient. With the Pixo-powered PayPal.com service, users can conduct a transaction simply by registering online for the free service and entering the recipient's email address and transaction amount. Together, PayPal and Pixo transform a smart phone into a mobile money terminal, making person-to-person payment more convenient than ever before.

"Pixo's flexible platform gives handset developers and wireless carriers a simple and effective approach to integrating advanced Internet capabilities, such as PayPal, into their products," said Peter Thiel, PayPal.com's CEO. "Users of any Pixo-enabled smart phone will be able to use PayPal to send money instantly from anywhere, any time."

"Conducting financial transactions over the Internet from a wireless phone is a breakthrough application for consumers, as well as for the wireless and financial services industries," said David St. Charles, president and chief executive officer for Pixo, Inc. "Together, Pixo and PayPal are making this application a reality."

This PayPal.com solution is enabled by Pixo's innovative HTML/WML microbrowser. Taking advantage of new packet data networks such as GPRS and CDMA2000, the microbrowser will be capable of accessing HTML-based content on the Web and reformatting this content for effective presentation on a wireless phone display. Through its support of wireless mark-up language (WML), the microbrowser will also be capable of supporting WAP-based content and services over packet data networks.

About PayPal

PayPal.com is an easy-to-use application that allows people to instantly and securely pay anyone with an email address from an existing credit card or bank account. After registering for the free service at www.paypal.com, consumers simply enter the recipient's e-mail address and a dollar amount. The money is debited from the payer's credit card or bank account and credited to the recipient.

The transaction takes seconds to complete. If the recipient is not yet a PayPal user, he or she simply registers on the PayPal.com site after receiving the e-mail notification and is immediately credited with the money. Funds may be withdrawn at any time by electronic transfer to a bank account or a personal check from PayPal.com. Users may also opt to email the money on to others.

About Pixo, Inc.

Pixo is a leading provider of mobile commerce solutions for wireless phone manufacturers and carriers. Featuring a practical, easy-to-use microbrowser, the Pixo software platform enables users to access all of the Internet and conduct mobile commerce from their wireless phones.

In addition, Pixo provides easy integration of wireless applications and Internet content and services, all within an intuitive and graphical environment. Designed to be compact and cost-effective, Pixo's software solutions can be quickly and easily integrated into manufacturers' high-volume phones. Pixo is a privately held company headquartered in Cupertino, Calif. For more information, visit www.pixo.com.

Note to Editors: Pixo is a trademark of Pixo, Inc. All other trademarks are property of their respective owners.

Contact:

Text 100 Public Relations (for Pixo)
Rita Manachi, 415/836-5990 ext. 235
ritam@text100.com
or
PayPal.com
Vince Sollitto
vince@paypal.com