Cyphermint Launches PayCash Mobile

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| Source: Cyphermint Inc.

MARLBOROUGH, Mass., April 24, 2006 (PRIMEZONE) -- Cyphermint, Inc., a leading provider of secure electronic payment solutions, introduces PayCash(tm) 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!

Unveiled at last week's CTIA Wireless 2006 Show in Las Vegas, PayCash Mobile represents the evolution of a suite of payment and transaction technologies. PayCash Mobile enables consumers to use their mobile phone to securely process payments, purchase and receive content such as ringtones, music, video, coupons, ticketing and participate in customer loyalty programs. This technology was demonstrated at the CTIA Wireless Show to securely process, in real-time, several retail-type applications.

When linked to Cyphermint's stored value card and the PayCash Wallet, PayCash Mobile offers the consumer a variety of flexible methods to process their financial transactions. They can extract cash at ATM terminals, pay at POS devices, shop on the Internet or at traditional brick and mortar retail locations. PayCash Mobile offers both banked and unbanked consumers a secure and reliable method of conducting a variety of transactions such as paying bills, purchasing goods and services, even instantly purchasing more cell phone minutes.

Positioned in the market as an innovative technological and financial solution provider, PayCash Mobile allows the consumer to conveniently conduct commerce and to securely and effectively process these transactions in real-time from any wireless device worldwide.

"Cyphermint has been developing PayCash Mobile for over two years and because it is based on our highly secure and scalable PayCash technology, we're able to bring this payment technology to cell phone users with complete security," said Joe Barboza, President and CEO of Cyphermint. "The concept of cellular financial transactions is just now being looked at by other cellular, payment and eCommerce companies, but Cyphermint continues to lead the market by launching PayCash Mobile for the pre-paid wireless markets, bringing carriers, consumers and merchants together."

For more information contact Frank DeCaro, VP of Business Development at 508-787-4818 or visit PayCash Mobile at www.paycashmobile.com.

About PayCash

PayCash is a highly secure, electronic, cash-backed online payment system. Every dollar of electronic currency is backed with real currency that Cyphermint has already collected. Settlement is instantaneous; the money moves immediately from the consumer into the merchant's PayCash account.

PayCash provides the security and assurance consumers want and need. PayCash transactions use a proprietary 1024-bit encryption technology to exchange data over the Internet. All transaction records for the consumer, merchant, and Cyphermint are available and stored with the same 1024-bit encryption technology.

About Cyphermint, Inc.

Headquartered in Marlborough, Mass., Cyphermint is a provider of Global Electronic Cash Payment and e-commerce solutions. Our core technology, PayCash, is used in three major areas: (1), Pre-paid and emerging consumer market, featuring Cyphermint's stored value card for secure retail and e-commerce services for the un-banked, (2) Kiosk Solutions -- delivering web-enabled highly secure self-service B2C merchandising systems, and (3) The PayCash Mobile technology that can be used by today's web-enabled wireless devices. The PayCash System provides un-banked consumers access to financial services such as Internet shopping, bill payment and debit cards. Cyphermint's software solutions provide complete turnkey solutions that deliver secure web-enabled transactional, financial self-service and merchandising services to merchants and consumers on the Internet, self-service kiosks and on cell phones, smart phones and Internet-capable PDAs.

The Cyphermint Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1267

Cyphermint, Inc.
Frank DeCaro, VP of Business Development 
(508) 787-4818