BlueKite Launches Patent Pending Technology for Cross-Border Prepaid Electricity Transaction Processing

MIAMI, March 25, 2013 /PRNewswire/ -- BlueKite (http://www.bluekite.com) a leading provider of international bill-payment services, today announced that it has filed with the US Patent and Trademark Office an application to protect its innovative processes for the cross-border prepayment of an electric account. Patent application: 61/783,929 "Systems and Methods for Cross-Border Prepaid Value Transfer to an Electric Utility."

BlueKite's unique and innovative system allows a sender to prepay the electricity account of another person back in their country of origin. Prepaid electricity is another cost effective offering for small and direct value transfers and is a complement to traditional money transfer and mobile airtime transfers.

According to official World Bank data, more than 215 million people today have emigrated from their homelands. In 2011, these wage earning immigrants with responsibilities for family members transferred more than $500 Billion to their home countries. Prepayment of a service is a concept that is widely understood and accepted throughout the world, including mobile phone service. Prepaid electricity programs are offered in numerous countries and are a standard for utility service. Pike Research estimates that in 2012 there were over 23 million prepaid electricity customers worldwide.

"We are achieving our goal of providing innovative technology to contribute and support unbanked families around the world," noted Bobby Aitkenhead, CEO of BlueKite. "Prepaid electricity transfers constitute an answer to a different need, ensures the money is used for its intended purpose and it's convenient to recipient families."

The company is planning to make the prepaid electricity services available for Central American countries and it's looking to expand the service in the next few months. The service will be available to consumers via internet, mobile devices as well as through a clerk-assisted in-store version.

About BlueKite
BlueKite offers a unique, state of the art, web-based platform that allows consumers to make real-time cross- border bill payments around the world. Payments are safe, accurate, reliable and guaranteed. BlueKite makes bill pay transactions possible through the integration of a proprietary payments platform with the accounting system of relevant service providers worldwide, allowing customers to view up to the minute balance information and pay bills immediately. Recently the company announced a $1.5 million seed round led by the founding team and PeopleFund. For more information please visit http://www.bluekite.com

SOURCE BlueKite

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