BioPay Adds Innovative Functionality to Its Biometric Identification System

Finger Scanning and Reporting Make it Easier to Stop Fraud, Increase Customer Service and Manage Check-Related Transactions

Herndon, VA — May 14, 2001

Today BioPay unveiled version 3.0 of its market-leading biometric identification system. New features, including pre-enrollment options and store-level reporting, enable retail and bank customers to manage transactions easier and stop fraud before transactions are completed.

Managers now have the option to enroll customers in the BioPay system on initial check presentment or prior to the customer visit. BioPay 3.0 features a pre-enrollment feature allowing retailers and banks to key in information on existing customers, then complete the enrollment process by adding a finger image and picture when the customer comes in to cash a check, make a deposit or make a purchase. After enrolling with an electronic finger scan a return customer need only use their finger to complete future transactions. Once the finger is scanned, the clerk or teller can tell if the repeat customer has a positive check transaction history. If the history is negative, they can immediately cancel the transaction.

"BioPay has met with overwhelming acceptance in the market," said Tim Robinson, president, BioPay. "These new features simply add to the versatility of the product and make it easier than ever for people to stop fraud in its tracks."

Another new function of BioPay 3.0 allows a retailer or bank to enroll a customer in the BioPay 3.0 system with only a picture when it is impossible to capture a readable finger image. For a very small portion of the population capturing quality finger images is difficult. For these people verifying the picture rather than a finger scan can complete future transactions. "The new feature automatically marks transactions as fingerprint verified or approved without the fingerprint. The goal is to ensure no customers with a positive check history will be turned away," added Robinson.

Managing completed transactions is simple. With BioPay 3.0 users get versatile store-level reporting, including:

• Print Screen options for Customer, Check Maker and Transaction
• End-of-day transaction information with the ability to print within a specific timeframe, number of days, months, years, hours or minutes.
• Reports can be printed or exported in "comma delimited" formats to popular Excel, Lotus 1-2-3 and Works formats.

How BioPay 3.0 Works

The process is easy. On initial check-presentment the customer gives the merchant or bank teller his/her driver's license or other ID for scanning or inputting into the BioPay database. At the same time, the customer's two index fingers are scanned and an electronic photo is taken of the customer. The entire process takes about two minutes and all information is stored within the BioPay system. A repeat customer need only scan their finger to complete future transactions.

What Are Biometrics?

Biometrics are unique physical or behavioral characteristics of an individual which can be measured and thus compared. Various types of biometrics include finger scanning, iris recognition, voiceprints (speaker verification), facial recognition, and hand geometry.

Because biometrics are bound to an individual, they can't be shared, lost, stolen or forgotten, meaning they give the highest level of security available and can be used in place of sharing personal data such as checking or credit card account numbers with store clerks.

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.