SOURCE: Relay Capital Corp.

August 13, 2005 18:28 ET

Relay Capital Corp. to Nationally Market iWire Payroll Cards

SCOTTSDALE, AZ -- (MARKET WIRE) -- August 13, 2005 -- Relay Capital Corp (OTC: RLYC) (, a provider of stored-value cards and other financial services, has entered into an agreement to nationally market the iWire Payroll Passport program to companies across the country. iWire, Inc. provides the most flexible, easy to implement ATM payroll card with world-class client support and customer service.

"We are delighted to partner with iWire and integrate its Payroll Passport program into the expanding product and service mix we can offer our growing base of client companies," said E Reese Bogle III, CEO of Relay Capital. "Along with all the features of a sensational payroll card program, we will also be able offer up to 5 additional cards for family members for Money Transfers for less than $5.00, Accidental Death and Dismemberment (AD&D) insurance of $10,000 and even a low cost phone card option."

The iWire Payroll Passport card that Relay Capital offers, is an ATM payroll card that is a simple and inexpensive way for employees with or without bank accounts to receive their pay via Direct Deposit, rather than be burdened with the expense and inconvenience of check cashing. With Payroll Passport, cardholders can access their pay at practically any ATM machine and purchase goods and services at millions of store locations. Among the specific features are:

--  Seamlessly integrates into an employers' existing Direct Deposit
    program, avoiding the need to run a parallel payroll process to support a
    payroll card. Payroll Passport cards are funded just like your employee's
    checking accounts through Direct Deposit.
--  Support for employers who do not offer Direct Deposit as a method of
    funding payroll.
--  Instant Issue payroll cards can be immediately issued to existing
    employees or new hires.
--  Payroll Passport cards ensure that a company maintains control over
    its payroll process, as it reduces or eliminate paper checks.
--  Lost or stolen cards are immediately reissued from the employer's
    location to employees with funds intact without missing a day of access to
    their money or a pay period.
--  Web-based Administrator screens that are easy to use allow a company's
    own authorized payroll administrator secure control over card issuance to
    instant issue, activate, and only with the proper authorizations, fund
    payroll cards.
--  Web-based reporting allows a company's authorized administrators to
    have a complete overview of its payroll card program.
--  There is no cost to a company to start a Payroll Passport program. No
    startup costs, no hidden fees, no fees for collateral materials. Employers,
    at their option, may choose to pay for some or all of the cardholder's card
    usage fees.
--  Surcharge-Free ATM access helps keep the payroll card costs down for
--  iWire owns and controls its own transaction processing technology and
    dedicated customer service infrastructure. This allows Payroll Passport to
    offer employers unparalleled service quality and reliability. Most other
    payroll card providers outsource their technology infrastructure and
    customer service and can not offer the same levels of service.
Payroll cards are a cost-effective alternative to printing, cutting, and mailing paper payroll checks. The payroll card is reloaded with the value of the employee's wages, allowing the employee to use the card at ATM and POS terminals, just like cash. Moreover, the transfer occurs quickly -- no waiting for the mail for remote employees. Benefits are especially great for variable 1099 payments to contractors and "un-banked" employees. Without a payroll card, un-banked employees pay a percentage of their check amount to have it cashed at check cashing outlets. In addition, they pay as much as 15% to transfer money to loved ones compared to just a few dollars for payroll card transfers to companion cards.

The market for payroll cards includes companies that process payroll, and financial institutions that provide banking and payroll services to commercial customers. According to the U.S. Dept. of Labor, the annual payroll for all employees is approximately $5 Trillion. Relay Capital's payroll card offering makes it easy, fast and secure for employees to receive payment via payroll cards.

About iWire, Inc:

In business since 2000, iWire, Inc. is the parent company to Payroll Passport. With offices in New York, and with a world-class data center in Orlando, FL, iWire provides all of the transaction processing infrastructure that powers the Payroll Passport Card. iWire also provides all of the in-house Customer Care and operations infrastructure that support Payroll Passport's client and customer service.

About Relay Capital Corporation:

Relay Capital Corporation (OTC: RLYC) ( is a developer and marketer of a wide range of prepaid financial services, including pre-paid stored value cards, reward cards, employee payroll cards, gift, retail and affinity group cards, travel cards and fund transfer cards. Relay Capital Corporation encompasses both the marketing and distribution of pre-paid and pay-transfer cards in concert with the development of loading centers. Loading centers are retail locations, such as convenience stores, check cashing facilities or other types of retail facilities serving to dispense or receive cash facilitating transactions for the stored-value card consumer.

Forward-Looking Statements:

This press release contains "forward-looking statements" within the meaning of the federal securities laws. These forward-looking statements include without limitation, statements regarding the timing of an award, if any. These statements are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of this release, and the company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events, or circumstances after the date of this release except as required by law.

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