Large Northern California Convenience Store Chain Adopts Paycheck Secure from BioPay

Fast & Easy Stores Expect Business to Double as a Result of Its New Biometric Check Cashing System

Herndon, VA — April 16, 2003

Biometric payments leader BioPay, LLC today announced it has begun installing its market-leading Paycheck Secure biometric check cashing system in Fast & Easy stores throughout Northern California. There are more than 30 convenience stores in the Fast & Easy chain. As a result, Fast & Easy expects its check cashing revenue to double by the end of the year.

"There is no doubt in my mind that Paycheck Secure will bring big benefits to my business," said Mike Ali, owner and president of Fast & Easy. "We installed four stores with the system last year and the check cashing business at those locations has been booming ever since. We're now moving to put Paycheck Secure in all of our stores."

Paycheck Secure uses biometric technology to capture a customer's finger scan, store a template of the scan, and then record check transactions associated with that person. The system has been designed to help merchants stop fraud and manage the check cashing process, but many merchants have found that it also drives their check cashing business.

Fast & Easy now cashes as much as $500K a month in checks at each store currently using the Paycheck Secure system. This is a substantial growth from previous months. The growth is driven by increased customer convenience and demand, and the chain's ability to effectively eliminate fraud.

Check cashing is a lucrative business for many merchants. In fact, check cashers process over 180 million checks annually worth more than $60 billion, which generate almost $1.5 billion in fee revenues, according to the Financial Service Centers of America.

To date, more than two million transactions have been verified with Paycheck Secure by more than 350 merchants across 26 states.

A total of 14 Fast & Easy convenience stores will be using Paycheck Secure by the end of June; the other stores will be installed over the coming months.

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.