Payment Choices. Every Country. Every Day™

Charlottesville, VA (December 21st, 2006) - Just in time for the holidays, PayByCash (Internet Payment Solutions, Inc.) and Teleglobal Ltd., have completed an integration enabling PayByCash to accept payments via SNAP. Merchant clients who have engaged PayByCash to provide alternate payment options to their customers automatically gain the benefit of SNAP’s broad popularity.

Among consumers in the UK, SNAP is one of the fastest growing pre-paid cards for purchasing goods and services online. PayByCash consumers will find that it is literally a “snap” to start using this new payment method.

With online retail spending set to reach £26 billion in the UK this year, PayByCash helps merchants ensure that no consumer ever walks away from a sale simply because they don’t have an accessible way to pay. SNAP’s prepaid internet shopping card spans the gap between cash customers and internet merchants.

Providing access to new markets is one of the things PayByCash does best for merchant clients seeking to grow their revenues.

According to Kevin Higgins, CEO Of Internet Payment Solutions, “Our relationship with SNAP is a win for everyone involved. This is will be a big benefit for our digital content merchants who can now connect with an entirely new group of consumers without the fraud risks digital content publishers typically face with credit card or other reversible transactions.” Higgins added, “SNAP has a very aggressive expansion strategy for 2007, so we’ll be seeing this payment system provider expand into many other countries.”

As usual, existing PayByCash merchant clients automatically gain the benefit of PayByCash’s newly added payment methods without having to revisit their integration or modify any other business processes.

About PayByCash (Internet Payment Solutions, Inc.)

Internet Payment Solutions, Inc. (“PayByCash®”) provides more than 50 payment methods reaching into all regions of the world, typically with no transaction fee to the merchant. Most payment methods cannot be charged back. One straightforward integration gives merchants all the PayByCash payment options. PayByCash handles all foreign currency acceptance and alternate payment option support.

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. PayByCash is the straightforward way to reach credit constrained customers and those in areas of the world where credit cards are not widely used.

About SNAP

SNAP is the prepaid card that lets you shop online privately, securely and easily. No forms to fill out, no registration, no credit checks. SNAP Cards are available for free at thousands of convenience stores in the UK, where you can also top-up the card with cash. With SNAP you can shop online, send and receive money and take advantage of great discounts and special offers.

SNAP is a product of TeleGlobal. The Company has offices in London and Geneva.

More information about SNAP can be found at: http://www.snapcard.com

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