Envios Boya Chooses PayQuik Money Transfer Platform to Power its Online Remittance Service; Leading Dominican Online Money Remittance Firm Opts for the Reliability, Security, and Proven Track Record of PayQuik Technology.

PHILADELPHIA -- PayQuik, the premier provider of money transfer solutions to banks, credit unions, and money transfer organizations, today announced that Envios Boya, a leading online money remittance service, has chosen PayQuik's QuikRemit money transfer platform to enable the safe, fast, and secure transfer of money to the Dominican Republic.

Under the agreement, Envios Boya will private label PayQuik's QuikRemit money remittance platform, which lets banks, credit unions, and money transfer organizations quickly give customers living abroad a safe, secure, and efficient way to send money or make payments around the world to family members or businesses. With PayQuik, Envios Boya customers living in the United States can easily send money back to relatives living in the Dominican Republic by simply logging onto the Envios Boya Web site at www.EnviosBoya.com, and entering their account details and transfer amount.

New customers' funds are available to the recipient within 48 hours. Registered and verified customers' funds are available to the recipient within 24 hours. PayQuik's QuikRemit technology serves as the financial backbone in support of the transaction, enabling the transfer, providing real-time compliance, and assuring its security and safety.

Internationally, money remittance is a $240 billion industry--growing at over 10 percent a year--as globalization causes more workers to leave their home country to work and live abroad. For many of these countries, international money remittance is a vital source of hard currency and a key pillar for troubled economies. At the same time, increasing security concerns and heightened requirements of the Patriot Act have made international money remittance more difficult for banks and financial institutions. PayQuik's QuikRemit and QuikAgent technology platforms provide an easy and fast way for these institutions to quickly adopt a proven solution that is now safely and securely powering money remittance to and from more than 50 countries worldwide, including in Asia, Latin America, Africa, and the Caribbean.

"We evaluated and had tried to implement a competitive solution but it simply did not work," says Rommer Castillo, COO of Envios Boya. "PayQuik has the experience and the technology that let us quickly implement a private label solution that is safe, secure, and more efficient, which means our customers can have 100 percent confidence that the money will be received by the intended recipient quickly and with no problems or concerns."

According to Bhairav Trivedi, President and CEO of PayQuik, "Envios Boya's adoption of the PayQuik platform extends our international footprint into an additional strategic Central American market, adding to an international network that includes Asia, Africa, Central and South America, and of course, the United States. Our continued growth and expansion into worldwide markets is part of a strategic effort to establish PayQuik as the international money remittance standard that will drive efficiencies, reduce costs, and improve security as increased scrutiny forces the industry to become more transparent and compliant with U.S. and international regulations."

About PayQuik

PayQuik provides banks, credit unions, and money transfer organizations a private-label, easy-to-deploy, secure, and compliant solution for serving the foreign funds transfer needs of their customers. Their technology platform allows organizations to quickly enter and serve this $240 billion market, with an easy-to-implement, turnkey solution that delivers better economics to providers and consumers. PayQuik provides full, real-time compliance with the U.S. Patriot Act, anti-money laundering requirements, and all pay processing regulations. PayQuik allows financial institutions to generate additional revenue, better serve diverse customer bases, and limit exposure and risk of international money transfers. The company has established relationships with financial institutions in 20 of the top 25 fund transfer countries, processing between 10,000 and 5 million transactions per year with each client. Visit PayQuik on the Web at www.PayQuik.com.