U.S. Wireless Data to Trade Under Symbol USWE.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 24, 2000

U.S. Wireless Data (OTCBB: USWEA) has been notified by Nasdaq that its common stock will begin to trade under the stock symbol USWE when the market opens on October 25. This change is being made because the corporation now has only one class of common stock outstanding. Since there are no other classes of common stock, the "A" suffix on the trading symbol is no longer necessary.

Prior to October 18, the Company's common stock had traded under the symbol USWDA. This symbol had been established originally to specify the Company's "Class A" common stock. The symbol was changed to USWEA by Nasdaq officials on October 18 to designate that the stock had begun to trade on a 1 for 4 reverse split basis. The Company has requested that the trading symbol be further modified to USWE in order to clarify that there is only one class of common stock outstanding.

About U.S. Wireless Data, Inc.

U.S. Wireless Data, Inc. (www.uswirelessdata.com), founded in 1991, markets proprietary technology that brings together three large, rapidly growing industries-transaction processing, wireless data transport and the Internet-to enable wireless payment processing. The Company's Synapse(SM) platform provides a gateway among all of the parties within a wireless point-of-sale (POS) transaction. This enables businesses that require mobility (i.e., not tethered to a telephone line) and/or faster transaction speed to accept wireless point-of-sale payments. By providing a seamless interface among merchants' POS terminals, wireless carriers and card processors, credit, debit and other card transactions can be processed as fast as cash, without the cost and inconvenience of a telephone line. In addition, Synapse(SM) Internet-based tools offer on-line, real-time transaction monitoring, remote diagnostics and automated terminal activation. The Company is headquartered in New York City.

Forward-Looking Statements: Except for historical information contained herein, this news release contains forward-looking statements that involve risk and uncertainties. While the management of the Company believes that current expectations reflect reasonable assumptions, actual results could vary materially depending on risks and uncertainties including, but not limited to: success of the Company's new business plan; market acceptance of the Company's products; the Company's requirement for additional capital; the failure to execute definitive agreements with potential strategic alliance partners; technological change; system capacity constraints or system failures; the ability of the Company to develop new distribution channels; or competition. The reports filed by the Company pursuant to United States securities laws contain a detailed discussion of these factors and certain other risks to which the Company is subject. The Company assumes no obligation to update this information. Management of the Company advises the reader to review these reports (which are available from the United States Securities and Exchange Commission's EDGAR database at http://www.sec.gov and at various other reference facilities in the United States).