BioPay Awarded 2003 "Product of the Year" by Technology Marketing Corporation's BiometriTech Magazine

Paycheck Secure Singled Out for Its Technological Excellence in Securing Financial Applications

Herndon, VA — February 26, 2004

Biometric payments leader BioPay, LLC announced today that Technology Marketing Corporation (TMC®)'s BiometriTech^TM magazine named Paycheck Secure as a Product of the Year winner for 2003. Paycheck Secure is the market-leading system for using biometrics to secure financial transactions. BiometriTech is the premier web publication and newsletter in the biometric industry.

"We are honored by the prestigious award. Paycheck Secure has made a tremendous positive impact to businesses across the country and this award is another milestone that defines and solidifies BioPay's leadership," said Tim Robinson, president, BioPay.

"Paycheck Secure is clearly deserving of leadership status in the retail and financial services sectors of the biometric industry. We're proud to reward their hard work and innovation with a Product of the Year Award for 2003," said Rich Tehrani, president of TMC and group editor-in-chief of BiometriTech.

Tehrani added, "The Product of the Year awards exemplify the best that this industry has to offer. BioPay has demonstrated a commitment to quality, and a commitment to the further development of the biometric industry through Paycheck Secure. BioPay deserves this great honor, and I look forward to seeing other innovative solutions from them as they continue to contribute to the future of biometrics."

About Paycheck Secure

Paycheck Secure uses biometric technology to electronically capture a customer's finger image, store a template of the image, and then record check transactions associated with that person. When a subsequent check is presented, the customer places their finger on the biometric reader. Paycheck Secure then searches for a match, identifies the customer and then delivers to the clerk a history of transactions associated with that person. If the person has any negative transactions with any other BioPay merchant in the country, advanced alert mechanisms warn the clerk, enabling the transaction to be declined before it is processed. A customer with a history of positive transactions allows the clerk to cash the check with confidence.

About TMC

Celebrating more than 30 years as a leading technology publisher, Technology Marketing Corporation (TMC) publishes two magazines: Customer Inter@ction Solutions, and Internet Telephony®, and the online publications, TMCnet.com®, Communications Solutions, Planet PDA Magazine, Alternative Power^TM and BiometriTech. TMC is also the first publisher to test new products in its own on-site laboratories, TMC Labs. TMC also produces The Global Call Center Outsourcing Summit. TMCnet.com publishes more than 25 online newsletters. For more information, visit www.tmcnet.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.