Virginia Retail Merchants Association Endorses BioPay

Commonwealth's Largest Retail Organization Recommends Paycheck Secure and bCheck to Its 6,000 Members

Herndon, VA — May 27, 2003

Biometric payments leader BioPay, LLC today announced that the Virginia Retail Merchants Association (VRMA) has endorsed BioPay as the preferred vendor of biometric payment services. BioPay's Paycheck Secure biometric check cashing system and bCheck biometric payment service will be recommended to more than 6,000 retail merchants who are members of the VRMA.

"Our retail members rely on the VRMA to research new technology and recommend solutions and services that are best in their breed, so we're pleased to offer our endorsement to BioPay," said Laurie Peterson, President of the Virginia Retail Merchants Association. "It has been shown that BioPay's biometric payment solutions help retailers maintain their competitive edge by reducing fraud and costs while enhancing customer service."

"The Virginia Retail Merchants Association is a distinguished organization that plays an important role in business, in both small and large companies throughout Virginia," said Tim Robinson, President of BioPay. "We recognize their high standards, so we greatly value their endorsement of our products and services."

About bCheck and Paycheck Secure

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.

BioPay's Paycheck Secure uses biometric technology to capture a customer's finger image, store a template of the image, and then record check transactions associated with that person. Merchants can obtain real-time, negative check transaction information from BioPay's database. Meaning, a BioPay merchant at one location will be immediately alerted to a fraudulent check from any other BioPay merchant in the country.

To date, more than three million financial transactions worth nearly one billion dollars have been completed using BioPay's technology. Also, the company has the nation's largest commercial electronic biometric database.

About the Virginia Retail Merchants Association

Formed in 1905, the Virginia Retail Merchants Association represents more than 6,000 retailers and other businesses with the mission to educate, inform, and serve as a resource for its members for the purpose of improving the retail business climate in Virginia. The VRMA supports reasonable and proper laws protecting the interests of its members. Special emphasis is directed towards fostering understanding of retailing, free trade, and free enterprise systems. Member businesses include convenience, department, drug, grocery, hardware, apparel, building supply, automobile, and sports. For more information on the Virginia Retail Merchants Association, please visit www.virginiaretail.org.

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.