BioPay Releases Paycheck Secure 7.0

New Tools Give Merchants Increased Revenue and Boost Customer Service

Herndon, VA — May 25, 2004

Biometric payments leader BioPay, LLC has now released Paycheck Secure 7.0, the newest version of the nation's most popular biometric check cashing system. Paycheck Secure 7.0 gives merchants powerful tools to better serve customers and increase store revenue. Paycheck Secure 7.0 is immediately available across the nation.

Paycheck Secure 7.0 gives current and new BioPay merchants increased management and control over check cashing functions thereby reducing the losses due to fraudulent checks. In addition, Paycheck Secure's new Account Lookup and Voucher features helps managers increase store retail revenue.

New Paycheck Secure 7.0 features include:

• Account Lookup — Allows a merchant to verify that the check maker on the presented check has an existing active, closed or overdrawn account with the bank shown on the check.
• Vouchers — Allows merchants to issue vouchers to check cashing customers in lieu of fees or in combination of fees. The vouchers are redeemable as cash credit toward purchases in the merchant's store or chain of stores.
• Expanded Fee Table — Allows administrators to set rules on how much of a fee will be charged based on a range of check amount. There is an infinite number of check amount ranges that can be setup.
• Recapturing Finger Images — Allows merchants to recapture a customer's finger image for those people who did not properly enroll in the system.
• Synchronized Web Reporting — Allows managers to get detailed information on how often a single store or multiple stores in a chain connect to the host to update their system information.

The Paycheck Secure 7.0 Account Lookup and Voucher features are available as an option to existing and new systems. New merchants will automatically receive Paycheck Secure 7.0's new Fee Table, Web Reporting and Finger Image enhancements when the system is installed.

Paycheck Secure is popular with merchants and consumers. Since BioPay began installing systems four years ago, Paycheck Secure has been used to complete more than 7.5 million transactions worth more than three billion dollars. More than one million consumers are enrolled in Paycheck Secure, making it the most widely used biometric payment system in the nation.

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.