Signs Letter of Intent With MobydoM, Inc. (OTCBB: ETLC), a financial diversified merchant services company, announced today that the Company has signed a letter of intent with MobydoM Ltd., creators of an advanced parking management system based in Israel.
As cities struggle to manage the multi-billion parking industry that ranges from building parking structures to collecting fees, MobydoM provides technology to effectuate seamless and cost-effective transactions.

MobydoM and eTelcharge will partner to create an innovative and efficient payment option, based on MobydoM's US patented technology and eTelcharge's host of payment systems to fully integrate the system for municipalities nationwide. The signed letter of intent (non-binding) will allow eTelcharge exclusivity to provide the billing of parking services in Texas and California.

The MobydoM/eTelcharge Solution

Better For Drivers - Best for Parking Providers

Parking consumers will activate a new account with eTelcharge by placing a simple phone call. Once the account is activated, the consumer can park, pay with his cell phone, and the charges will be billed monthly. Securing funds for the municipality and providing the ease of this payment option for consumers can be an explosive combination.

This easy parking payment method -- no searching purse or pocket for change, no running to the pre-pay machine when your time's run out -- charges drivers only for the time they actually parked. Drivers are billed monthly.

For the municipality this solution helps maximize parking payment while simplifying the collection processes itself. It significantly reduces fines -- and the expensive process of trying to collect fine payment. And it also helps the ongoing move towards more efficient, technology-backed services.

"This is a win-win situation for all," stated eTelcharge's CEO Carl Sherman. "With such consumer and provider benefits our company feels sure that this solution will be readily adopted by the marketplace."

"This joint venture represents a great strategic move aligning ModydoM with a strategic partner like eTelcharge," MobydoM CEO Amos Shattner added. "We are positioning ourselves with key corporations who understand our business model and level of convenience we bring to consumers. eTelcharge understands and demonstrates the same consumer concerns we have. It's a perfect partnership," Shattner concluded.

The implementation of this concept is believed to be the first of its kind in Texas and California.

About (OTCBB: ETLC) offers the traditional credit card merchant services, checks and other existing financial infrastructure offered by banks, as well as the proprietary new online currency that provides online shoppers the exclusive choice to charge purchases to their telephone bill. Designed to reduce the risk of identity fraud and identity theft by providing an Internet credit option for online shoppers to charge a number of items sold over the Internet. This payment option is a perfect match for the 70 million Americans who do not own a credit card. started as the only company with the ability to charge a variety of products to the home phone bill. Clearly, past electronic commerce solutions have not employed effective security and privacy techniques that adequately address consumer concerns about privacy and security on the Internet today. The release of the latest version of the proprietary phone billing option is scheduled to be launched soon.

About MobydoM

MobydoM is a leading global provider of innovative business solutions that modernize the parking processes and enable all drivers to manage easily their parking needs. MobydoM's innovative solutions are recognized for their ability to reduce the cost related with parking management (operator's side) and increase the driver's satisfaction level with its easy to use mobile interface. The company is located in Israel and its major markets are in Europe and in the USA.
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