BioPay Releases Paycheck Secure 6.0

New Enhancements Broaden Fraud Prevention, Access and Communication Capabilities

Herndon, VA — August 4, 2003

Biometric payments leader BioPay, LLC today announced the release of its new Paycheck Secure 6.0 software. The new version of the popular biometric check cashing system will broaden merchants' ability to reduce losses from check fraud and expand customer service. Paycheck Secure 6.0 is immediately available across the nation.

"Eliminating fraud is a top priority for many retailers," said Tim Robinson, president of BioPay. "Paycheck Secure 6.0 assists in reaching this goal by giving merchants a reliable tool to accurately verify a person's identity and confirm their check cashing history."

Paycheck Secure 6.0 gives current and new BioPay merchants increased management control over check cashing functions, helping to further reduce losses to check fraud from customers. In addition, the system can help managers detect possible check fraud from employees. Paycheck Secure 6.0 also increases the flow of customer information between multiple stores in a chain, making it easier for clerks to service customers more efficiently.

New Paycheck Secure 6.0 features include:

• Web-based Data Access — Allows a merchant with a single store or multiple locations to access and update a store's data from any computer via a secure, password-protected connection. Managers can easily compile store reports for multiple locations and check on store activity while off-site.
  
  
• Multi-Store Data Sharing — Allows merchants to instantly share customer information across a chain no matter where the customer enrolled. This helps improve customer service and build loyalty across the chain.
  
  
• Manager and Clerk Log-ins — Allows administrators to set rules on clerk access and maintain records on who handled which transactions. Administrators can also determine who uses the system, what functions they can perform, and set rules for password expiration and automatic logout times.

The Paycheck Secure 6.0 upgrade is free to current BioPay merchants. New merchants will automatically receive Paycheck Secure 6.0 when the system is installed.

Paycheck Secure is popular with merchants. Since BioPay began installing systems three years ago, Paycheck Secure has been used to cash more than three million checks worth more than $1 billion. The company is also distinguished for developing the nation's largest commercial electronic biometric database, which includes more than a half million enrolled customers.

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 customer cashes a check for the first time, the person gives the clerk his/her driver's license for inputting into the Paycheck Secure database. At the same time, the customer's two index fingers are scanned and a digital photo is taken of the customer. All information is stored within the Paycheck Secure system. A repeat customer need only use their finger image to complete future transactions.

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.