Neomagic (R) Corporation Announces Strategic Implementation of PayU

MercadoMagico.com, a division of NeoMagic Corporation (OTC:NMGC), announced today that it has added PayU, a leading financial services provider in global growth markets, as a strategic complement to its eCommerce payment solutions for MercadoMagico.com.mx.

Incorporating PayU on MercadoMagico.com.mx enhances the checkout process by providing customers with secure, intuitive and flexible payment options for purchases on MercadoMagico.com.mx. As a leading online payment service provider, PayU has more than 300 payment methods and a PCI certified platform that processes approximately 1.2 million payments everyday.

“The alignment of PayU and MercadoMagico just made sense,” said Fabiana Paiv, Communication Manager of Payu. “Not only does PayU have local presence in the markets that align with MercadoMagico’s expansion strategy, their goal to serve under-served markets is in perfect alignment with ours.”

“We’re excited to add PayU as a strategic complement to our payment solutions for our Hispanic and Latino customers located outside of the United States,” said David Tomasello, Chairman of NeoMagic Corporation. “With PayU’s distinctive eCommerce offerings we’re confident we are now better able to deliver a world-class payment solution to current and future customers.”

About NeoMagic

NeoMagic Corporation, headquartered in Silicon Valley, a pioneer in SOC (System On A Chip) and embedded dynamic random-access-memory (DRAM) technology, the integration of complex logic, memory and analog circuits into single-chip solutions, designed to offer the lowest power, smallest form-factor and best multimedia features and performance.

For more information, visit www.neomagic.com.

NeoMagic owns and operates http://www.MercadoMagico.com.

MercadoMagico is a registered trademark.

About PayU

PayU is the leading online payment service provider in 16 high growth markets, dedicated to creating a fast, simple and efficient payment process for merchants and buyers. Whether someone wants to make an online payment on a computer, tablet, mobile device, e-wallet or even offline, our 250-plus payment methods and PCI certified platforms are designed to meet every consumer’s needs. Our local operations in Asia, Central and Eastern Europe, Latin America, the Middle East and Africa enable us to be experts in these countries and provide the best solutions for the local market. These markets represent a potential consumer base of nearly 2.3 billion people and a huge growth potential for merchants. The company has more than 1,800 payment specialists based in these local markets that are constantly working to exceed PayU’s 160,000-plus merchants and the millions of consumers making online payments. For more information, please visit www.payu.com.

PayU makes up the Fintech division of Naspers Ltd. Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 130 countries and markets with long-term growth potential, it runs some of the world’s leading platforms in internet, video entertainment, and media. Naspers is listed on the Johannesburg Stock Exchange (NPN.SJ) and has an ADR listing on the London Stock Exchange (LSE: NPSN).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements with respect to the Company's plans, objectives, projections, expectations and intentions and other statements identified by words such as "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed from time-to-time in the Company's filings with the Securities and Exchange Commission, including our Form10-K's, 10-Q and 8-K's for 2007 through the date of October 31, 2010 hereof have been made available to the Investor at www.sec.gov. Information for the period ending January 30, 2011 to the present is not available through the SEC due to the cessation of the Company’s required filings under the 1934 Act. Actual results, including, without limitation, the Company's ability to successfully raise capital may differ significantly from those set forth in the forward-looking statements. Forward-looking statements involve risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). For example, statements about our expectations in connection with financings are subject to a variety of uncertainties and are subject to change as a result of changes in circumstances that could make it difficult for us to consummate such financings on terms acceptable to the Company, or at all. The Company undertakes no obligation to update any forward-looking statements, except as provided for by law.

NeoMagic is a registered trademark of NeoMagic Corporation and MiMagic is trademarked. All other trademarks are the property of their respective owners. NeoMagic disclaims any proprietary interest in the marks and names of others.

Investor Relations Information:
Rod Peterson
NeoMagic Corporation
Vice President, Administration and Information
(408) 428-9725

Source: MercadoMagico


Categories: Business to Consumer, e-Commerce, Investments, Shopping

Tags: Best Price, Best Shopping Mall, Excellent Prices, Huge Inventory, huge inventory of products, Large Selection, multiple vendors and Best Prices, Multivendor, Shopping


About NeoMagic

NeoMagic Corporation (OTC:NMGC), a fabless semiconductor manufacturer and provider of handheld mobile technology solutions.

Rod Peterson
NeoMagic
408.428.9725
NeoMagic
830 Hillview Court (suite 138)
Milpitas, CA 95035
United States