CashWorks Launches "Check to Card" Check Cashing Solution

DALLAS, TX - May 5, 2003 - CashWorks, Inc., a leading provider of technology solutions for the non-bank financial services industry, today announced the launch of the "Check to Card" payroll check-cashing solution that allows the proceeds from a cashed payroll or government check to be loaded directly onto a prepaid debit card.

This new solution further expands the existing transaction funding options available to customers of grocery and convenience stores that participate in the CashWorks check cashing network. In addition to using store cash or CashWorks' patent-pending direct linkage to the existing store ATM, merchants will now have the option to fund the check cashing transaction with the CashWorks Platinum Card. Initial deployments of the new "Check to Card" solution will take place in several Town & Country stores.

The prepaid debit card can be branded as the "CashWorks Platinum Cash Card" or can be co-branded with the merchant. The card is provided through a partnership with FSV Payment Systems Ltd., a leading processor of financial stored value cards. It gives check-cashing consumers the ability to access their funds at virtually every ATM around the world as well as to make purchases at the more than one-million retail locations that accept on-line debit cards for payment.

Cardholders have the ability to convert all or a portion of the funds from their check immediately to cash at an ATM and then store the balance safely on their CashWorks card account for use as needed.

The CashWorks card is offered free to those who enroll in the CashWorks check-cashing program at a participating merchant location. This new solution uses the same patent-pending PayPort and check cashing technology created by CashWorks which is already operating at over 400 locations across the United States.

"The CashWorks Check to Card program allows us to simply and safely provide check cashing services to our customers," said Devon Bates, CIO of Town and Country stores. "Since CashWorks guarantees every check through their system, there is absolutely no risk to us and use of the card eliminates the need to worry about handling extra cash in our stores".

"We're excited about this new product offering and are confident that it will drive a tremendous number of new check-cashing locations in the CashWorks network" said Ken Rees, CEO of CashWorks. "Additionally, the CashWorks Platinum Card will give America's more than 65 million self-banked consumers new options and enhanced flexibility in how they manage their money."

CashWorks has installed the PayPort(tm) technology at more than 400 retail merchant locations across the United States.