Pay Linx Financial Corporation announces signing of agreements with Bank West and the Government of Alberta


    EDMONTON, June 5 /CNW/ - Pay Linx Financial Corporation (TSX-V: PIN)
("Pay Linx" or the "Company") is pleased to announce that it has entered into
an Debit Card Issuer and ISO Agreement with Bank West (the "Debit Card Issuer
Agreement"), and a Debit Card Service Provider Agreement - Amending Agreement
No. II with Bank West and Her Majesty The Queen In Right of Alberta (the
"Province"), as represented by the Minister of Finance and Enterprise and the
Minister of Employment and Immigration (the "Second Service Provider Amending
    The Company, Bank West, and the Province entered into a Debit Card
Service Provider Agreement (the "Original Service Provider Agreement")
effective March 13, 2006 with respect to a pilot project to provide debit
cards to individuals receiving financial assistance from the Province's
Department of Human Resources and Employment, which is now the Department of
Employment and Immigration. The term of the Original Service Provider
Agreement expired on July 31, 2006 and was amended pursuant to an amending
agreement extending the duration thereof to March 31, 2007 (the "First Service
Provider Amending Agreement"). To further extend the duration of the project
to March 31, 2009 and to update certain provisions of the Original Service
Provider Agreement, the parties entered into the Service Provider Amending
Agreement on June 2, 2008, effective March 31, 2007 and expiring March 31,
2009. The Original Service Provider Agreement, First Service Provider Amending
Agreement, and Second Service Provider Amending Agreement (collectively, the
"Service Provider Agreement") can be found under the Company's SEDAR profile
    The Company and Bank West entered into the Debit Card Issuer Agreement on
June 2, 2008, effective July 31, 2006 and expiring March 31, 2009, pursuant to
which the Company acts as agent to Bank West by providing certain services in
connection with, among other things, the issuance of debit cards under the
Service Provider Agreement and the provision of a funding management
processing system. This agreement can also be found under the Company's SEDAR
profile at

    About Pay Linx

    Pay Linx is engaged in developing a business of payment issuing and
processing services to corporations and governments. Pay Linx's services
deliver payment processing that is integrated with the Interac and MasterCard
payment networks in North America. The Royal Bank of Canada ("RBC") holds a
substantial investment in Pay Linx and Pay Linx has agreed to provide services
exclusively to RBC, which are intended to be used by Canadian governments to
replace cheque and voucher payments through QuickLinx(TM). In addition, Pay
Linx, through Bank West, a Canadian financial institution, and Palm Desert
National Bank, a United States financial institution, is developing financial
payment solutions for corporate and other clients to transact with their
    Pay Linx has developed the services and infrastructure that enable its
clients to replace cash and cheque payment transactions with electronic
payments. Pay Linx's services provide instant payment distribution by which
its clients or customers of its clients issue and, from time to time, fund
prepaid Interac or MasterCard services to recipients in real time. The
recipients have a payment card and a personal identification number for use at
an Interac and MasterCard terminal, by which the funds can be instantly
    Pay Linx employs contemporary automated teller machine (ATM), point of
sale (POS) and online technologies. Pay Linx has developed a platform for
processing and managing accounts and payment cards, including cardholder and
customer account management, reconciliation and financial settlement, and
customer reporting.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy and accuracy of this release.

    Not for dissemination in the United States of America. This news release
shall not constitute an offer to sell or the solicitation of any offer to buy
securities of Pay Linx in any jurisdiction, including the United States. The
common shares of Pay Linx have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and have not been and will not be offered or sold
in the United States or to any U.S. person except in certain transactions
exempt from the registration requirements of the U.S. Securities Act and
applicable state securities laws.

    Certain statements contained herein constitute forward-looking
statements. Such statements relate to future events or Pay Linx's future
performance. Forward-looking statements often, but not always, are identified
by the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "expect", "target" and "intend" and statements that an event or
result "may", "will", "should", "could" or "might" occur or be achieved and
other similar expressions. The forward-looking statements that are contained
herein involve a number of risks and assumptions. Also there is no assurance
that the assumptions underlying the forward-looking statements will be
attained and variances could be material. As a consequence, actual results
might differ materially from results forecast or suggested in these
forward-looking statements. Except as required under applicable securities
legislation, Pay Linx does not undertake any obligation to publicly update or
revise any forward-looking statements.

For further information:

For further information: Ian McNeill, President and CEO, Pay Linx
Financial Corporation, Tel: (780) 702-4710, Email:,; Marshall Rosichuk, CMA, CFO, Pay Linx Financial Corporation,
Tel: (780) 702-4702, Email:,

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