LONDON--(Marketwire - Feb 23, 2012) - ValidSoft Limited ([ www.validsoft.com ]), a global supplier of fraud prevention, authentication and transaction verification solutions, has been shortlisted in two categories for the prestigious SC Magazine Awards.
ValidSoft is a wholly-owned subsidiary of Elephant Talk Communication Corp. (NYSE Amex: [ ETAK ]) ([ www.elephanttalk.com ]), an international provider of business software to the telecommunications and financial services industry.

VALid® has been voted a finalist in the category Best Secure Transaction Solution. The patented product is ValidSoft's telecommunications based multifactor authentication and transaction verification platform. It provides protection across multiple e-banking channels including the Internet, M-banking, IVR, mobile payments and Card-not-Present transactions. These frauds include Man-in-the-Browser and Man-in-the-Middle, SIM Swap and Call Forward Unconditional.

VALid-POS® has also been voted a finalist in the category Best Security Solution, Financial Services. The patent-pending product is a telecommunications-based solution for card-present fraud detection and resolution. It prevents against cross-border and domestic country fraud in real-time.

Pat Carroll, CEO of ValidSoft, commented: "We are delighted that SC Magazine has recognised our products by shortlisting them for its highly regarded annual awards. The team at ValidSoft has worked hard to produce unique and innovative products that we can be proud of, and we are now discussing with financial institutions how they can use them to save the time and money spent on false positives, and -- perhaps most importantly -- improve customer care."

The independent judging panel is handpicked by SC Magazine for experience and impartiality from the senior ranks of the information security profession. The members work for major European and global banks, including investment and retail banks, retail groups, airlines, insurance groups and government departments.

The SC Magazine Awards Europe 2012 event will take place on 24 April at London Hilton Park Lane.

For further information on how VALid® and VALid-POS® works, please watch this corporate [ video ].

For more information on ValidSoft, please visit our website at [ www.validsoft.com ]

About ValidSoft
ValidSoft is a subsidiary of Elephant Talk Communications Corp. (NYSE Amex: [ ETAK ]) ([ www.elephanttalk.com ]) and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft's solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information, please visit ([ www.validsoft.com ]).

About Elephant Talk Communications
Elephant Talk Communications Corp. (NYSE Amex: [ ETAK ]) ([ www.elephanttalk.com ]) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit ([ www.elephanttalk.com ]).

Forward-Looking Statements
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