BioPay Granted Biometric Check Cashing Patent

Patent Confirms Leadership in the Industry

Herndon, VA — November 1, 2005

BioPay, the leading biometric transaction processor, announced today that the company has been issued a patent for its biometric check cashing process marketed as BioPay Paycheck Secure. U.S. patent 6,957,770 covers methods for speedy enrollment of check presenters and automatic assessment of transaction fees based upon merchant-defined rules. BioPay houses the nation's largest commercial biometric database, and its Paycheck Secure product is a complete payroll check cashing solution designed to stop fraud and speed check cashing transactions.

"This patent affirms our place as the industry leader in biometric transaction processing," says Tim Robinson, President of BioPay. "By creating check cashing and payment transaction solutions that rely on an individual's unique finger image, BioPay is minimizing check fraud and identity theft and enhancing consumer privacy, because nothing is 'left behind' at the time of transaction."

Since its founding in 1999, BioPay has been leading the industry in terms of biometric process patents, with 40 pending. BioPay has also gained distinction as the intellectual capital leader by developing patents, rather than acquiring them, and boasts the most diversified patent-pending portfolio in the biometrics industry.

BioPay has enrolled more than two million consumers in its biometric database and has successfully authorized transactions in excess of $7 billion. More than 1,500 merchants in 42 states are using one or more of BioPay's methods for processing financial and other transactions requiring identification, such as payroll check cashing, biometric payments, loyalty programs and age verification programs.

About BioPay

With more than two million registered consumers, BioPay's customer adoption proves that the time for biometrics is now. BioPay is a biometric transaction company, processing more than 17 million transactions in excess of $7 billion. More than 1,500 merchants are using one or more of BioPay's smart, secure methods for processing financial and other transactions requiring identification, such as payroll check cashing, loyalty programs, age verification and stored value programs. BioPay's payment service offers merchants a low-cost form of payment while reducing fraud incidents, and gives consumers a convenient, secure and quick way to pay for purchases. BioPay's Paycheck Secure system is a complete payroll check cashing solution designed to stop fraud and speed check cashing transactions. Herndon, Virginia-based BioPay is the only pure biometric transaction processing company today with its own patent-pending systems for grocers, convenience stores, gas stations, beverage stores and other lifestyle retailers. For more information on BioPay and its market-leading products, please visit www.biopay.com.