BioPay and Answers, Etc. Partner to Stop Check Fraud Nationwide

Herndon, VA — October 23, 2003

Biometric payment transaction leader BioPay, LLC and Answers, Etc. have announced an agreement that will help eliminate check fraud for thousands of merchants across the country. As part of the agreement, more than 4,000 Answers, Etc. customers will be able to subscribe to BioPay's database of negative information, including information on people who have passed fraudulent checks. The agreement also allows for BioPay's biometric technology to be offered to existing and new Answers, Etc. customers, giving businesses access to the nation's electronic commercial biometric database.

By the end of the year, BioPay's market-leading Paycheck Secure biometric check cashing technology will be offered as an upgrade with all Answers, Etc check cashing systems. Existing Answers, Etc. customers will also be offered the BioPay Paycheck Secure upgrade option. Merchants using Paycheck Secure will eliminate fraud and have access to the most widely used electronic biometric check cashing software in the United States.

"Working with BioPay allows Answers, Etc. to put proven fraud-fighting technology in the hands of our customers," said Tim Mackin, vice president, Answers, Etc. "The combination of BioPay's biometric technology and our extensive network of more than 4,000 installed check cashing systems will help put criminals out of business."

"The relationship with Answers, Etc. allows more businesses greater access to negative check cashing information," said Tim Robinson. "This means merchants can share information with other merchants anywhere in the country, allowing greater control over check cashing services."

With this agreement, any Answers, Etc. customer using BioPay's Paycheck Secure can easily obtain real-time, negative check transaction information from BioPay's biometric database. Meaning, a BioPay merchant at one location will be immediately alerted to a fraudulent check from any other BioPay merchant in the country. Thus, a clerk can decline the transaction, saving money that may have otherwise been lost on a fraudulent transaction.

Check cashing is a booming business. Businesses that offer check cashing services are ideal and convenient for people who need immediate use of their money and can't wait until paper checks are cleared through the banking system. In fact, there are more than 11,000 financial service centers in the United States, according to the Financial Service Centers of America (FiSCA). These businesses cash more than 180 million checks worth more than $55 billion.

About Paycheck Secure

Paycheck Secure uses biometric technology to capture a customer's fingerprint, store a template of the image, and then record check transactions associated with that person. Additionally, merchants access the nation's largest commercial electronic fingerprint database to help identify fraud artists and check-bouncers when they use BioPay's Paycheck Secure.

About Answers, Etc.

Answers, Etc. is dedicated to the demands of the financial services industry. Since 1989, Answers, Etc. has developed computer software and supplied hardware tailored to the needs of various financial service providers, including check cashing stores, banks, and check cashing kiosks within convenience stores and casinos. Today with over 4,000 teller stations currently in place across the US and Canada, Answers has become a leader in this competitive market and is one of the largest suppliers of check cashing systems in North America.

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.