Prepaid Visa® Your Money, Your Way!

C&L Enterprise Plus PROPOSAL

Confidential 2018

C&LEnterprisePlusContent1. SummaryofC&LEnterprisePlusPrepaidVisa®or

MasterCard®Proposal

2. Pre-ApprovalPreparatoryProcess&Development

3. CardManagementSystem

4. PrepaidProcessingPlatforma. OnlineBankingb. Security&ComplianceTools

5. DigitalizationandPushTechnology

6. PrepaidEco-System

7. Rewards&LoyaltyProgram(Retention)

8. WhyStoredValue PlusforPrepaid?

9. ActualPrepaidCosta. ProposedPrepaidCostb. ProposedPrepaidRevenueShare

10. RolesandResponsibilities

11. CustomizedSoftwareDevelopment

12. ExtendYourTeam,WithWorldClassDevelopers

13. ActualMobileAppCosta. MobileAppCostComparison

a. DiscountedPriceforC&LEnterprisePlus

14.ActualWebDevelopmentCosta. WebDevelopmentCostComparison

a. DiscountedPriceforC&LEnterprisePlus

1.SUMMARY OF“C&LEnterprisePlusVISA®”Thefollowingstrategicinitiativesarestepswegothroughinordertoreceiveapprovalfromasponsoringbank.

1. Pre-approvalPreparatoryProcessforApprovalofaVisa®orMasterCard®prepaidprogram

• C&LEnterprisePluswillprovideallthedocumentationrequiredtoapplyforaprepaidVisaorMasterCardBINsponsorshipfromanissuingU.S.bank.

2. CardManagementSystem

• C&LEnterprisePlushasengagedwithacertified3rd partyproviderforaturn-keyCardManagementSystem(CMSSoftware)thatwouldbeintegrateddirectlywiththesponsoringbank(s),issuing/acquiringprocessors,fulfillment,cardmanufacturers,customerserviceoranyother3rd partyproviders.

3. PrepaidProcessing,Compliance&ThirdPartyPartners

• C&LEnterprisePlushasstrategicallianceswith3oftheTOPPrepaidProcessors,whichprovidethePCI/DSScompliantprocessingplatformtoissuetheC&Lcard.Wealsoengagewiththetopcardmanufacturer/fulfillmentandloadingpartnersinthebusiness.

4. DigitalizationandCardPenetration(PushTechnology)

• C&LEnterprisePlusisouttodevelopaviableprepaidcardprogramandusenewdigitalchannelsthatwillresultinthesafest,mostreliable,andmostsecurenetworkpossible. WithaC&LEnterprisePlusVisa®card,StoredValue Plus(consultantsforC&L)candevelopback-endsystemstoeliminatethelongforms,complexroutingnumbersandwaitingtimeassociatedwiththeconventionalfundtransfermethodrequiredonCLCard’s siteandprovide“added-value”oroptionstoC&LEnterprisePlusthatleadstonewclients.

5. CustomizedWebApplications&MobileApplications(specifictotheprepaidspace)

• C&LEnterprisePlusiscustomizingasuiteofproductsrelatedtotheprepaid&debitcardindustry.

• PrepaidCardMobileApp– Historyactivity,Transactionspending,Balances,etc.

• Card-Linked-RewardsApp- Cash-BackorPointsrewardsarelinkedviaamobile-apptoprepaidordebitcards

2.PRE-APPROVAL PREPARATORYPROCESSC&LEnterprisePlusDevelopment:Wewillprovideintellectualproperty,industryknow-howandtradesecretsalongwith,butnotlimitedtothefollowingsupportingitems:

ProgramOutline,Description/ExecutiveSummary(BusinessPlan)• TheMarket(yourspecifictargetmarket)• Themarketingstrategy• Feestoconsumers• Identifyallfunctionality(loading,ACH,DD,etc)• Whitepaperfortheprogramincludingflows,charts,etc.• Cardspecificationswork(templates/formatsforapprovalsubmitting)

CompleteProForma (Profit&LossProjections,includebankrevenue)• Summary• SummaryAssumptions• ProFormaProfit&Loss• AccountsProjections• Assumptions• ProgramRevenues• ProgramExpenses• ExpenseAssumptions• Staffing• ChangeControl

2.PRE-APPROVAL PREPARATORYPROCESS(cont.)Providepartnerships withthirdpartyproviders(loadingpartners,processingpartners,etc)

Definerolerequirements (programmanagervsprogrammarketer)

Whatwedefineasthe3-PreparatoryP’s:• ProductSetUpGuide(theCard)• PartnerSetUpGuide(3rd partyproviders)• ProgramSetUpGuide(theprogram,enrollment,KYC,etc)

Compliance:• Anti-MoneyLaunderingGuidelines• AntiTerroristGuidelines• RedFlagRules• DisasterRecoveryPlan• RegisteredMSB(MoneyServiceBusiness)• RegistrationwithFederalAgencies(compliantwithSAR’s)• PackagePrincipalsFinancials/TaxReturns• PackageCompany’sFinancials/TaxReturns• PackagingofRequiredCorporatedocuments• CompletedandsignedBankApplicationforStoredValueServices

AdditionaldevelopmentofFlowsmayneedtobedevelopeddependingonthebanksrequest.

2.PRE-APPROVAL PREPARATORYPROCESS(cont.)CardMGTProcess:

• Enrollment• ManagementofCards• ManagementofCardholders• ManagementofSupport

WebApplicationProcess:• PrepaidProcessingPlatform• Customizedplatforms(mobileappsincluded)

BSA/AMLACCESSMENT:• Wewillalsoassistinansweringimportantquestionsthatwillalignwithbankingcompliance,suchas,butnotlimitedto:

• ProvidethetypeofFundingSourceandwhatLoadTypesareallowed• WhataretheDailyAggregateLoadLimits(notincludingfees)• ArethereCashWithdrawalLimits?• WhatarethePointofSale(POS)limits?• ExplaintheCardUsage:closedlooped/privatelabel/domesticuseonly/includesinternationalusage• Howisthecarddistributed?• WhatCardholderInformationisrequiredandwhen?• ExplainifthereareMultipleCardRestrictions(exclusiveofreplacementcards).• ProvidedescriptionofanyAdditionalFunctionalityAllowed.Examples:card-to-cardtransfer,companioncards,BillPay

3.CARDMANAGEMENTSYSTEM(SOFTWARE)CardMGTPlatform:

• Enrollment• ManagementofCards• ManagementofCardholders• ManagementofSupport

CreateUser(Admin):• Master/SuperAdmin• LimitedAgentlogin

CardApplyPages• C&LEnterprisePlusCardApplyPage• C&LEnterprisePlusAgentApplyPages

CardOrders• C&LEnterprisePlusOrders• C&LEnterprisePlusAgentOrders

CustomerService• C&LEnterprisePlusCardholders• C&LEnterprisePlusIVR• C&LEnterprisePlusTicketSupport

• Bank• Processor

C&L Enterprise Plus

C&LEnterprisewillutilizeproprietarysoftwaretomanageVisaandMasterCardprepaidprogramsdirectlyconnectedwithyoursponsoringbank,processorandall3rd partyproviders.RECOMMENDED: CustomizingtheCMStomeetbankcompliance&businessrequirements.

4.PREPAIDPROCESSINGPLATFORMPrepaidIssuingPlatform:

• StoredValuePlushasstrategicallianceswiththeTOP3PrepaidProcessors.WenegotiatethebestpricesandservicesonbehalfofC&LEnterprisePlusinordertogetthebottom-linebestcost-per-transaction(s).

RECOMMENDED:

• Arangeofaccount,card&mobilebasedprogramsincluding,StoredValue,Prepaid,Payroll,GiftandLoyalty,inaclosedoropenloopenvironment.

• WebbasedinterfaceSSLsecured• Real-timeprocessing• Backoffice,billing• Riskmanagement• Real-timefraudmonitoring• BINlevelcontrols,settings,parameters,feestructure

• Programlevelcontrols,settings,parameters,feestructure• Accountlevelcontrols,settings,parameters,feestructure

• Identityauthenticationprocess

4a.ONLINE &MOBILE BANKINGOnline&MobileBanking:

Selectingthebestprocessorinvolvesresearchingandexperiencingtheir“online-banking”platform.StoredValue PluscanconductanalysisoftheonlinebankingfeaturesonbehalfofC&LEnterprisePlusinordertogetthebestonline/mobilebankingsolution.

RECOMMENDED:

• WebbasedOnlinebanking

• InteractiveVoiceResponse(IVR)banking

• Mobile(Cellphone)WAP&Javainterfaces

• Integraltotheissuingplatform

• Real-time

• Multifunction• Accountbalance• Transactiondetails• Transfers• Productinformation(i.e.usage,fees)• Communications(i.e.disputes)

4b.SECURITY ANDCOMPLIANCECompliance:

WenegotiatethebestpricesandservicesonbehalfofC&LEnterprisePlusinordertogetthebestsecurityandcompliancesolutionsfrompartnerprocessors.

RECOMMENDED:• Security

• Allinterfacesatalllevelsofaccessarewebbased• SecureSocketLayer(SSL)secured• LoginandPassword• Twofactorauthentication• PCI-DSScompliant,TR39(akaTG3)audit,SSAE16(akaSAS70),certifiedwithvariouslargerprocessors

• Compliance(providedbyourpartneringissuing/acquiringprocessorandprocessingplatform)• KYCandBSAcompliantperCBN• InternalOFACdatabaseupdatedaily.Allaccountsvalidateduponopeningandonamonthlybasis• SARfiledasrequired

5.DIGITALIZATION &PUSHTECHNOLOGYTheUS,oneofWesternUnion’sstrongestandmoststablesegments,illustratestheimportanceofdigital. Thefirm’sUS-originatedbusinessgrewby8%inthequarter.Anddigitaltransactionsgrewby27%YoYintheUS— higherthantheaverage— with60%oftotaltransactionscomingfrommobile.Forinstance, estimatedglobalcross-bordermobiletransactionsgrewby51.8%in2015andwereoperationalin93countries.

RECOMMENDED:

DigitalizationDevelopment:• Continuedinvestmentindigitalwillberequiredintheshort-term,butongoinggrowthisagoodsignforC&LEnterprise

Plus'sabilitytostaycompetitiveinthespace.C&LEnterprisePluswillinvest intechnologyinfrastructure,whichcouldincreaseoperationalexpenses. ButotherlargeMTO’sstrongdigitalgainsindicatethatinvestmentwillpayoffindividends.Andincreasedcompetitionfromdigitalproviders,whichattempttoattractcustomersthroughaccessibleplatformsandlowfees,couldbeparticularlyattractiveinunstableeconomiesandwillonlyemphasizedigital’simportance.

PushTechnology:Pushtechnologiesthatenablefastpaymentfromperson-to-personwithouttheneedtolinkthetransactiontopersonalbankaccountscontinuetobeanopportunityaroundtheworld.• C&LhasengagedwithStoredValue Plus,acertifiedISOunder2categorieswithVisaandthroughitsdeveloperprogram

canoffer avalue-addingpushtechnologythatprovidesanopportunitytotransfermoneyfromP2P,B2B,orP2B. Itissimilartoawiretransaction,butunlikeawiretransaction,thetransferdoesnotneedtobeexclusivelylinkedtoyourbankaccount.

• ThescalingpotentialofthisplatformistremendousbecauseitprovidesC&LEnterprisePlusanopportunitytopushpaymentstoVisaaccountsasanoptiontosendingintobankaccounts.ThisincludesPrepaidVisacards,whichfillsamajorvoidwithunbankedtryingtoreceiveremittances.

4

Load &Transferchannels

CardMfg.,Fulfillment,IVR&CustomerService

Bank/BINsponsors

Co-brandingnetworks

Visa/Plus

MasterCard/MaestroPrepaidProcessingPartnersIssuing/Acquiring

U.S.Banks

EuroBanks

GreenDot

VisaDirect

DirectDeposit

LatinAmerican(Brazilian)Banks

AsianBanks

CEMEABanks

Discover

Fulfillment

EMV&WirelessPlasticMfg

CustomerService

IVRknowledge-base

6.THEPREPAIDECO-SYSTEM

6

Back-officeadministration

Cardsetups

Customerservicing

Schemeintegration

and compliance

Accountconfiguration

Web site

SMS

IVR

Call centre

3-D secure

EMVVirtual

Mobile

Visa/MasterCard

ISOCertifiedRegistry

Contactless

Disposable/reloadable/transfersOpen/closed/restricted loop

Chargebacks

MIS/clearingand settlement

Hostaccountintegration

Riskand fraud

CardholderID validation

6.THEPREPAIDECO-SYSTEM(CONT.)

Rewards&Loyalty

1. AllC&LEnterprisePlusprepaidVisa®prepaidprogramsareinteroperablewithanexistingrewardsplatformthatcanbeprovidedtoC&LEnterprisePlus.

2. Rewardsprogramisbasedona“merchant-funded”model,whichgivesyourcardholdersexclusiveaccesstorelevantoffersfrombrand-productsonlyavailablebyusingthe“C&LEnterprisePlus”card.

3. C&LEnterprisePlusengageswitha3rd partyprovider(StoredValue Plus)toprocessesallrewardsissuedandredeemedforyourprogramunderatrustaccountandcreditstherewardsaccountforanytransactionrequiringareward,whethercash-back,pre-soldorpoints.

RevenueOpportunity

• Allpurchasesmadebycardholdersarecommissionabletoourprogramaspartofourrevenuestream,includingtheincreasespendinginterchange.

StoredValue Plus

7.REWARDS&LOYALTYRETENTIONPROGRAM

• C&LEnterprisePlus hasengagedwithStoredValue Plusisaprivatelyheldcompanyfocusedonnewpaymenttechnologieswithspecificexpertiseintheprepaidsector.

• Knowledgeable andexperiencedprogrammanagementteamhasdeveloped,launchedandoperatedwellover50Visaand/orMasterCardprepaidprograms.

• Expertprepaidmanagers,complianceteam,webdevelopment&mobiledevelopmentengineers,designersandCTOlevelsupport.

• CompanyObjective– developturn-keyprepaidandpaymentsolutionprogramsforclients.

• Technologybasedonincorporatingcurrentpaymentsinfrastructureandrapidconsumeradoption

• StoredValuePlus facilitatesC&LEnterprisePlus'sapprovalprocess toregisteredwithVisa®/MasterCard®ISOcertifiedto:• ISOCardholder(ISO– C)–conductscardholdersolicitation,cardapplicationprocessingservicesand/orcustomer

serviceactivities.• ISOPrepaid(ISO– PP)–solicitsotherentities(i.e.,merchant,corporateclients,governmententities,other

businessesetc.)tosell,activateorloadprepaidcardsonbehalfofanissuer. Prepaidcardsalesand/oractivationisaprimaryfunctionofourbusiness.

StoredValue Plus

8.3rd PartyPartnersFORPREPAIDMGT

C&L Enterprise Plus • Card account

management• B2B2C• Distribution• Program management

Information

Bank BIN sponsor• Bank Scheme

membership• Scheme settlement• Regulatory

compliance• Bank BIN setup

Processor• Scheme integration• Load integration• Card bureau integration• Card management

system• Card

design/certification management

• Card bureau functional specifications

• Programmefunctionality:

– definition– configuration– certification

C&L Enterprise Plus • Sales

• B2C• Retail

• Marketing• Engagement

• Promotions• Rewards

• Corporate• Enterprise Incentive

10.ROLES ANDRESPONSIBILITIES

StoredValue Plus• All Pre-Approval

Preparatory ProcessOptional:• Customized

Software Dev• CTO level assist• Co-Compliance

Officer Role• Program Mgt

11.CUSTOMIZEDSOFTWAREDEVELOPMENTCoreProgrammingPrinciples

• Focusonasingletechstackinstillscoreconceptsandaworkingknowledgeofaprimarylanguage. Proficiencyineachareaisvalidatedthroughtargetedassessments.

Fullstack DevelopmentSkills

• Hands-on,practicalexperienceasfullstack developersenablesanabilitytocontributetobothbackendandfront-endcomponents.DevelopershaveworkedinexistingcodebasesandcreatedfullwebapplicationsforuseslikeVisaprepaidorbankrewardsplatforms.

RECOMMENDED:

VisaDeveloperProgram:StoredValue PlushasthecredentialsthroughanexistingissuingBankmemberofVisathatgivesusaccesstodevelopingsoftwarewithPushtechnologiesthatenablefastpaymentfromperson-to-personwithouttheneedtolinkthetransactiontopersonalbank.Likewise,ithascredentialstodevelopVisaDirect:https://usa.visa.com/partner-with-us/payment-technology/visa-direct.html

PrepaidMobileBanking:StoredValue Plusiscurrently25%intothedevelopmentofaVisaprepaidmobileappthatcanbecustomizedtomeetC&LEnterprisePlusVisaprepaidprogramsbusinessrequirementneeds.Nevertheless,ifC&LEnterprisePlushasamobilepaymentplatformorappinplacewecanintegrateintoyourcurrentplatformwithVisadevelopersprogramandwithourownproprietaryprogramming.

Co-BrandedVisa®orMasterCard®PrepaidDebitPrograms