PayCashMobile Launches PayCash Mobile

Marlborough, MA — August 7, 2006 — PayCashMobile, Inc., a leading provider of secure electronic payment solutions, introduces PayCash™ Mobile, a secure and innovative mCommerce solution using PayCash technology. Imagine being able to pay for goods and services with your cell phone, to any merchant on your payment list, in seconds!


PayCash Mobile is more secure than credit cards and more convenient to carry than cash. This robust, secure and ubiquitous solution allows any Internet enabled phone to act as a mechanism for payment authorization across a variety of usage scenarios.


PayCash Mobile is not a text messaging service (SMS) where unsecured payment information is sent to third party payment processing services. PayCash Mobile transactions are in real-time and funds are transferred to and from your account instantaneously and securely. It does not require complicated downloading and works with any Internet-enabled device. The user's PayCash account can be managed across any mobile platform such as the cell phone, smartphone, personal computer or any PayCash enabled kiosk day or night, as a supplement and complement to busy and demanding lifestyles.


Imagine calling your local pizza joint and ordering your favorite pie with all the toppings plus extra cheese for delivery. When the pizza is delivered to your door 30 minutes later you simply provide your cell phone number to the driver and the order is processed. All you have to do is add the tip and confirm the amount on your cell phone. Both parties get an instant confirmation. It's that easy; it's that fast. No need to fumble for cash or a credit card to get a slice of the pie!


There are approximately 2 billion mobile phone users worldwide, who already browse the Internet, check their email, and download games and music. The next logical step is to shop and pay for goods and services on their cell phones. PayCash Mobile is a secure, easy to use payment system designed for today's consumers on the move. PayCash mobile is multi-lingual, handles just about any currency and works with any carrier. Today, not only have cell phones and the like become integral parts of their owner's life, the transition from brick and mortar banking to financial applications via the mobile device has made the cell phone more important and reliable than the personal computer.


The account is also linked to a stored value card (SVC), which allows users to load funds into the account as well as withdraw money at any ATM in the network. Users can also easily customize their menu offerings to include shopping, bill payment, subscription services, donations and person-to-person transfers.


"PayCashMobile has been developing PayCash Mobile for over two years" said Joe Barboza, President and CEO of PayCashMobile. "The concept of cellular financial transactions is just now being looked at by other cellular, payment and eCommerce companies, but PayCashMobile continues to lead the market by launching PayCash Mobile for the pre-paid wireless markets, bringing carriers, consumers and merchants together".


PayCashMobile was recently awarded the patent for RSA signature, which is used to create a virtual coin to transfer funds from different accounts over the Internet secured by its proprietary 1024 bit encryption.


For mobile payments, the advantages go even further than just ringtones and mobile minutes. PayCashMobile has created the PayCash Mall that will enable merchants to offer select goods and services on the mobile, web and kiosk platform simultaneously. "Book of the Week", music and DVD best sellers can be purchased, paid for and shipped to the address on your PayCash account with the touch of a button. "It is like putting your shopping preferences on speed dial," said St.Jones®, Vice President of Marketing at PayCashMobile.