Pay Linx Grants Stock Options to Directors

    EDMONTON, Oct. 24 /CNW/ - Pay Linx Financial Corporation ("Pay Linx" or
the "Company") (TSX-V: PIN), provider of services and infrastructure enabling
the replacement of cash and cheque payments with electronic payment cards,
announced today that it has granted a total of 311,000 options at an exercise
price of $0.15 per share to the directors as compensation for their services
in Q4 2008.
    In July 2008, the Pay Linx board implemented a compensation plan (the
"Plan") for the directors of the Company that is based entirely in the form of
options, pursuant to the Company's Stock Option Plan. Since the Company's
formation in 2006, no cash has been paid for Directors' fees. The Plan is
based on a total annual expense budget for Directors' fees of $65,000, with
this expense amount converted, using the Black Scholes model, into options
which are issued on a quarterly basis. In accordance with the Plan, options
were issued in July for the third quarter in addition to the 311,000 issued at

    About Pay Linx

    Pay Linx Financial Corporation (TSX-V: PIN) delivers affordable,
accessible and contemporary payment processing services that integrate
seamlessly into the Interac and MasterCard financial networks in North
America. Pay Linx, which is 25% owned by Royal Bank of Canada ("RBC"),
provides services to RBC for Canadian governments through QuickLinx(TM)
replacing cheque and voucher payments. Pay Linx, through Bank West, a Canadian
financial institution, and Palm Desert National Bank, a United States
financial institution, also delivers new and innovative financial payment
solutions for corporations to better serve their customers. Pay Linx services
support governments and corporations to replace cash and cheque payments based
on services and infrastructure provided by Pay Linx. Pay Linx instant issuing
services allow corporations to issue and fund a Pre-Paid Interac or MasterCard
in real time allowing the beneficiary to select their own PIN number using a
Pay Linx PIN and Card Activation terminal. This allows the beneficiary to have
instant access to funds that can be reloaded by the corporation.

    Forward-Looking Statements

    The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release. Certain statements contained herein may
constitute forward-looking statements. These statements relate to future
events or our future performance. All statements other than Statements of
historical fact may be forward-looking statements. Forward looking statements
are often, but not always, identified by the use of words such as "seek",
"anticipate", "plan", "continue", "estimate", "expect", "may", "will",
"project", "predict", "potential", "targeting", "intend", "could", "might",
"should", "believe" and similar expressions. These statements involve known
and unknown risks, uncertainties and other factors that may cause actual
results or events to differ materially from those anticipated in such
forward-looking statements. We believe that the expectations reflected in the
forward-looking statements are reasonable based upon management's current
views but no assurance can be given that these expectations will prove to be
correct and such forward-looking statements should not be unduly relied upon.
No assurance can be given that actual results, performance or achievement
expressed in, or implied by these forward-looking statements will occur, or if
they do, that any benefits may be derived from them. Past results have been
applied in drawing a conclusion or making a forecast or projection set out in
the forward-looking information.

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

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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