bCheck

BioPay, LLC

BioPay's technology and products bring the convenience and reality of biometric payments to the consumer. The company's latest offering, a product called bCheck, allows consumers to make purchases using their index fingers rather than writing a check or swiping a credit or debit card.

Here's how it works: A merchant scans a participating customer's driver's license or other form of ID and the customer's index fingers; checking account information is also captured and the data is stored securely in BioPay's Indivio database. BioPay says the enrollment process can be completed in less than two minutes.

To make a purchase, a customer enters his or her phone number into the bCheck terminal, places an index finger on the scanning bed and then confirms the amount for purchase. The transaction is similar to a traditional check payment, but settlement is made electronically through an ACH. The customer's fingerprint serves as the signature on a check.

Family-owned Santoni's Supermarket in Baltimore has signed on to using bCheck in its store, which handled more than 1.2 million customers in 2002.

BioPay says merchants using bCheck will reduce their processing costs, payment handling and losses caused by fraudulent transactions. The company says its transaction costs are 75% less than the costs of credit card and offline debit card transactions.

And since recent studies show that consumers are more willing then ever to try out biometric technology for payments ("Bring on the Biometrics," FYISOs, The Green Sheet, January 27, 2003, issue 03:01:02), merchants might find themselves asking: Why not?

BioPay, LLC

580 Herndon Parkway, Suite 100

Herndon, VA 20170

1-866-324-6729 (toll free)

www.biopay.com