More Secure than Credit Cards, PayCash Mobile is for People on the Move

MARLBOROUGH, Mass., Aug. 7, 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!


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.

"Cyphermint has been developing PayCash Mobile for over two years,"
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."

Cyphermint 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. Cyphermint 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(r), Vice President of Marketing at Cyphermint.

For more information about Cyphermint or PayCash Mobile, please
contact Joe Barboza at 508-787-4810 or email jbarboza@cyphermint.com.
Visit PayCash Mobile at www.paycashmobile.com.

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, smartphones and Internet-capable PDAs.