Payment Choices. Every Country. Every Day™

Charlottesville, VA (July 27, 2006) – Today PayByCash® (Internet Payment Solutions, Inc.) announced the deployment of its ability to accept payments via most of the popular Chinese debit cards. With this new functionality, PayByCash’s merchant clients are more accessible than ever before to potential Chinese customers.

English-speaking Chinese consumers are a large segment of China’s young, Internet-savvy population. Internet content providers that are accessible to this huge demographic can reap significant revenues. As is often the case when trying to sell into growing markets, that kind of accessibility is not attained by credit card acceptance alone.

Chinese Debit Card acceptance increases the number of ways Chinese customers can pay for online services via PayByCash to twelve. Overall, PayByCash enables its merchant clients to receive payments from worldwide consumers via more than 40 non-credit-card payment options.

Chinese Debit Cards Are Backing The Booming Chinese E-commerce Business

According to Kevin Higgins, President and CEO of PayByCash, “This is an exciting development for both our merchant clients and their Chinese customers. Approximately 92% of all online Chinese payments are made with local debit cards and our new payment gateway supports over 20 Chinese bank cards, representing 98% of the Chinese debit card system.”

As of 2005, over 1.3 billion people in China use the internet, and 34% of these internet users regularly purchase goods and services online. Unfortunately, many Western content providers do not want to accept credit card purchases from that region of the world due to the perceived fraud risk. Chinese direct debit is a much safer proposition.

To answer the demand for widespread, safe and cost-effective alternate payment acceptance, PayByCash has been aggressively integrating new payment systems around the world. With the addition of Chinese debit card acceptance, PayByCash has again improved its ability to provide their merchant clients with access to markets that are otherwise difficult for Western merchants to reach profitably.

About PayByCash (Internet Payment Solutions, Inc.)

Internet Payment Solutions, Inc. (“PayByCash®”) has been empowering non-credit-card customers and the Internet businesses that want to reach those customers since April, 1998. PayByCash bridges the gulf between merchants seeking to take advantage of the Internet’s global reach and consumers who want or need to pay without a credit card. Through PayByCash, merchants gain the ability to easily accept an unprecedented and constantly expanding breadth of payment methods via a single, easy integration. PayByCash is the straightforward way to reach credit constrained customers and those in areas of the world where credit cards are not widely used.

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