Bibit and euroConex Adopt Verified by Visa to Help Fight Internet Fraud; Psion Among First Clients to Benefit From Enhanced Security.

Business Editors/High-Tech Writers

SAN JOSE, Calif.--(BUSINESS WIRE)--May 28, 2002

Bibit Global Payment Services (Bibit) today announced an agreement with euroConex, established by Bank of Ireland and U.S.-based NOVA, to adopt Verified by Visa, Visa's global solution for the authentication of e-commerce payments. Through its collaboration with euroConex, Bibit's will enable merchants in the United Kingdom and Ireland to accept secure payments using 3-D Secure technology. Bibit's announcement with euroConex follows a similar agreement between Bibit and Citibank to support the German and Swiss markets. Both partnerships strengthen Bibit's strategy to roll-out this secure technology to merchants across Europe.

Visa's new Verified by Visa service allows issuers to verify cardholders' identities for on-line transactions real-time, thus eliminating one of the major causes of credit card fraud. As a result, Visa is offering protection for on-line retailers who adopt Verified by Visa, eliminating liability for card-not-present charge-backs. Being implemented in Europe immediately, the service will be available on a global basis by April 2003. Among the first Bibit clients to benefit from this technology will be Psion, a leading technology company and a major on-line seller of handheld computers.

"We primarily selected Bibit as our payment service provider in response to our customers' demand for a wider range of payment methods," said William Goodridge, head of new media and e-commerce for Psion. "We acknowledge the risks attached to credit card payments, and have taken the appropriate steps to minimize our susceptibility to fraudulent transactions. This has often meant not being able to give customers the highest level of service we would want. That's why we welcome 3-D Secure as a watertight, practical solution for balancing our charge-back risk."

The fraud risk prohibited Psion from delivering its products to addresses other than the credit card billing address. Psion welcomes the introduction of 3-D Secure, as the customer authentication will allow the company to be more flexible in meeting the ever-changing demands of order delivery.

"Adopting Verified by Visa fits neatly into Bibit's ongoing efforts to provide both our on-line merchants and their customers with the highest levels of security in Internet payments," said Stewart Roberts, Bibit's country manager in the United Kingdom. "While this form of consumer authentication will primarily appeal to our merchants, many of whom rely on Visa for a substantial part of their business, we also expect it to significantly enhance consumers' confidence in paying on-line."

About Bibit

Bibit Global Payment Services is one of the world's leading Payment Service Providers. Bibit specializes in processing payments, originating from various channels, over an Internet infrastructure. The company provides a multi-lingual, end-to-end Payment Service that combines 60 multi-currency and international payment methods into a single digital solution. Bibit's service offering includes full reconciliation and administrative services. The Payment Service seamlessly integrates into existing transaction generating platforms and is equipped with dedicated interfaces for specific industries and sales channels. Bibit operates on a global scale through offices in Germany, France, the United Kingdom, the Netherlands and the United States. The company's international client list includes multi channel retailers, as well as call centers, pure webshops, and physical points-of-sale. Customers include companies such as Dell Computer Corporation, Expedia, Inc., The Financial Times, Vodafone, and NEC Computers International. Bibit is a privately held company. For more information, please visit www.bibit.com.

About euroConex

A joint-venture between Bank of Ireland and US-based NOVA EuroConex Holdings Inc, euroConex provides an integrated card payment processing service to acquiring banks, financial institutions and merchants in Ireland, the UK and across Europe using a multi currency platform. EuroConex processes and settles in a range of leading currencies including the Euro, US Dollar and Sterling to support businesses operating internationally. EuroConex supports stand-alone Point-of-Sale terminals and provides tailored solutions for integrated till systems and enabling PC-based payments through call centres and Internet channels. The company currently employs 160 people and has a large number of blue chip clients in a wide range of sectors including hotel, retail, international call centre, petrol and travel. Further information on euroConex can be found by visiting the company's website at www.euroconex.com.

About Visa International

Visa is one of the world's leading payment brands and the largest payment system worldwide. Visa-branded cards generate almost US$2 trillion in annual volume and are accepted at over 22 million locations around the world. The Visa organization plays a pivotal role in advancing new payment products and technologies to benefit its 21,000 member financial institutions and their cardholders. Visa is a leader in Internet based payments and is pioneering the creation of u-commerce, or universal commerce -- the ability to conduct commerce anytime, anywhere, and any way. For more information, visit www.Visa.com.

About Psion

Psion focuses on providing mobile data and corporate network solutions. Psion has a well-earned reputation for technology innovation and leadership. Psion was founded in 1980 by Chairman David Potter and is now one of Europe's leading technology companies with a history of pioneering new markets for digital products. Psion PLC's strategy focuses on industrial and enterprise markets through Psion Teklogix and on its strategic investment in Symbian. For more information, please visit www.psion.com.