bCheck Delivers Convenient Biometric Payments to Consumers; Merchants Get Low-Cost, Secure Payments

Santoni's Supermarket to Install First bCheck Application

Herndon, VA — February 18, 2003

Biometric payment transaction leader BioPay, LLC today announced its bCheck biometric payment service. BioPay's bCheck service gives consumers the convenience of paying for purchases by the touch of a finger; cash, checks, credit and debit cards, and ID are not required. Merchants can take advantage of bCheck to substantially reduce processing costs, payment handling, and losses due to fraudulent transactions. One of the first bCheck implementations will be done by Baltimore-based Santoni's Supermarket.

"Biometric payments are a natural evolution for retailers," said Tim Robinson, president, BioPay, LLC. "Consumers and merchants alike are seeing the substantial value biometrics offer. Advanced applications make it inevitable that financial transactions will be initiated with a biometric."

According to a recent survey by the Opinion Research Corporation for the National Consortium for Justice Information and Statistics, 85% of respondents consider it acceptable to use biometrics to make transactions more secure.

Biometrics are unique to an individual and can't be stolen or easily replicated, so they offer consumers protection against identity theft. Merchants accepting biometric payments can be confident the customer is who they say they are, helping to reduce losses to fraud.

Convenience is another benefit of biometric payments. Consumers no longer need to carry cash, a checkbook, credit or debit cards or ID to make purchases. Using a biometric, consumers can quickly pay for purchases and be on their way. Merchants accepting biometric payments speed the check-out line, helping to serve all customers efficiently.

Santoni's Supermarket, a family-owned business in Baltimore, Maryland, with a customer count of more than 1.2 million in 2002, will offer bCheck to its grocery customers in the first part of 2003.

"Paper checks are less expensive to process than credit and debit card transactions, yet they are not as secure and take longer to process," said Rob Santoni, Chief Financial Officer, Santoni's Supermarket. "With bCheck, payment and processing is electronic, so the transaction is done quickly but securely. As a result, we get our money quicker and at a lower processing cost."

Biometrically-initiated Automated Clearing House (ACH) transactions are less expensive to process than paper checks, credit or debit card payments. For example, bCheck transaction costs are 75% less than the costs of credit card and off-line debit (check card) transactions.

bCheck is based on biometric technology used in Paycheck Secure, BioPay's market-leading payroll check cashing system. During a short enrollment process, the customer gives the clerk his or her driver's license or other ID for inputting into BioPay's database. At the same time, the customer's index fingers are scanned. The customer's preferred checking account is also recorded. The entire process takes less than two minutes and all the information is securely stored in the BioPay system. Repeat customers can quickly and conveniently pay for purchases with the touch of a finger; cash, checks, credit and debit cards, and ID are not required.

Purchases with bCheck

To make a purchase, customers simply enter their phone number and place their finger on the scanning device and confirm their purchase amount. Funds are securely transferred from the enrolled account to the merchant. The transaction is performed like a normal check payment, but settlement is performed electronically and the customer's finger acts as the signature on the check.

bCheck at MARKETECHNICS® 2003

Attendees of the Food Marketing Institute (FMI)'s MARKETECHNICS® 2003 tradeshow in Dallas, Texas, February 23-25, can experience bCheck firsthand at BioPay's booth (#2051). Attendees can also participate in BioBucks, a new joint program offered by FMI and BioPay that gives people the power to make purchases with the touch of a finger on the show floor. BioBucks is based on bCheck technology and was designed to demonstrate the convenience and security of using biometrics in a retail setting.

About Santoni's Supermarket

Founded in 1930, Santoni's Supermarket was one of the first full-service grocery stores in Baltimore. The company is committed to taking care of its customers, respecting and enabling its employees, and operating with integrity and hard work. For more information, visit www.santonismarket.com.

About BioPay, LLC

Since 1999, BioPay has been providing smart, secure methods for processing financial transactions. Its Paycheck Secure systems help businesses substantially reduce fraud and give consumers a convenient method for cashing checks. BioPay's payment service offers merchants a low-cost form of customer payment and gives consumers a secure, fast and convenient way to pay for purchases. BioPay's patent-pending systems for merchants, banks and financial service organizations have been implemented across the nation. BioPay's value to consumers and merchants has created the nation's largest commercial electronic biometric database. For more information on BioPay and its market-leading products please visit www.biopay.com.