CelPog announces the first U.S. mobile phone based payment system focused on the college student community.

Released on: September 24, 2007, 11:44 am

Press Release Author: CelPog LLC

Industry: Financial

Press Release Summary: CelPog launches first mobile phone based payment system for use by college students based on concept of communities. Solution provides payment, debt, and project sharing capabilities.

Press Release Body: “College students carry little cash, seldom write checks, and all too often get zapped with excessive credit card charges,” according to David Blinbaum, a recent Cornell graduate and co-developer of CelPog. “They regularly share expenses and easily lose track of who owes what to who but they never lose track of their cell phones.”

In response to this reality, and with major input from students at Cornell and UPenn, CelPog has launched its new mobile payment solution specifically tailored to college students. Its platform handles peer-to-peer payments via mobile phones plus a wide range of other features that track debts and shared expenses. CelPog’s student service is offered free of charge.

CelPog’s unique approach to mobile financial transactions is based on the concept of communities. According to Jacques Blinbaum, CEO and Founder of CelPog, “We see ourselves as the first to launch a mobile payment solution that builds upon established relationships. By doing so we are able to create a more user friendly experience. Fraternities, sororities, and other groups now have an efficient new way to send out bills, collect money, and track payments. Individuals can use CelPog for peer-to-peer transactions like sharing bar tabs or travel expenses. Roommates will use our shared expense feature to automatically keep track of house expenses. With over 15,000,000 college students out there we hope to build a significant core base of users during this academic year.”

CelPog is currently offered to students with a valid college or high-school email address. Users can opt to fund their CelPog account by linking it to their traditional bank account or they can limit its use to a debt tracking tool. CelPog will soon expand to include local merchants and will also offer its technology to partnering financial institutions thereby adding credit, bill payment, and ATM functions.

CelPog’s proprietary technology was independently developed. It is currently available at www.CelPog.com.

About CelPog LLC:
CelPog LLC is a newly formed company focused on delivering state of the art payment solutions to U.S. customers. CelPog’s founder and CEO, Jacques Blinbaum, a native New Yorker, is the founder of F2b (www.f2b.com.br), a Brazilian payment solution provider established in 1999. For the past eight years F2b has been a leading innovator in the field of electronic payments with a special focus on mobile solutions designed to serve the needs of a diverse range of customers who are underserved by traditional banking institutions.

Web Site: http://www.celpog.com

Contact Details: Jacques Blinbaum - CEO (jb@celpog.com)
Melissa Sheehan - Vice President of Marketing and Communications (ms@celpog.com)
CelPog LLC
230 Park Avenue – Suite 917
New York, NY 10169
212.490.4094