Saf-T-pay expands its family of merchants with Ultracart

SAF-T-PAY EXPANDS ITS FAMILY OF MERCHANTS WITH ULTRACART

MIAMI BEACH, Fla., Oct. 6, 2006 – SAF-T-PAY Inc., a global Internet payment system company, today announced that it has entered an agreement with UltraCart, a hosted web-based shopping cart servicing merchants worldwide. Through this agreement, UltraCart will offer SAF-T-PAY to its merchant client base as a viable and safe payment alternative for online shoppers. Currently, SAF-T-PAY through its bank partners offers merchants access to a potential client base of over 13 million pre-qualified online banking customers in Latin America.

Manuel Montero, former American Express executive and SAF-T-PAY’s current CEO, stated, “We are extremely excited about bringing to our customers in Latin America the quality merchants that UltraCart services. SAF-T-PAY is partnering with major banking groups outside the U.S. whose customers want to buy in the U.S. but for a number of reasons can not. “

SAF-T-PAY expansion plans include European and Asian markets which will eventually enable the company to tap into the 120 million online international shoppers. SAF-T-PAY allows retailers to expand their customer base while resolving the key issues that currently restrict sales such as merchants’ exposure to fraud, consumers’ lack of trust, reduced card penetration and lack of personal credit information. Montero affirmed, “We know that many merchants want potential customers from abroad. By joining SAF-T-PAY, merchants can really benefit from the ground floor opportunity we provide…who can turn down pre-qualified online shoppers, free promotion opportunities and no fraud risk?”

UltraCart’s CEO, Jim Schaeffer added, “We look forward to a mutually beneficial partnership with SAF-T-PAY. I believe our globally conscious merchant partners will love the opportunities SAF-T-PAY offers to expand into international markets.”

UltraCart, founded in 1996, is headquartered in Atlanta, Georgia, and has an additional office in Merced, California. The company hosts their services from a world-class data center and services small- and medium-sized businesses worldwide. UltraCart’s market leading technology provides clients the power to create e-business systems that leverage the capabilities of the Internet to grow their businesses.

About SAF-T-PAY

SAF-T-PAY is a Secure Payment System and Clearinghouse for Internet purchases providing a rapid, effective payment solution in international markets and allowing non-credit card users and overseas shoppers to make online purchases directly through their local bank. SAF-T-PAY through a combination of its own network and proprietary technology leverages the infrastructure of banks in each country in which it offers services facilitating payments between online retailers and shoppers. More information on the company can be found at www.saftpay.com.

Media Contact

Barbara Bibas

(786)294-6411 ext. 221

bbibas@saftpay.com