Paymentplus and PSINet Transaction Solutions Partner to Provide Small- and Medium-Sized Businesses Real-Time eCommerce Payment Processing Capabilities

Business Wire, March 6, 2001

Business Editors/Hi-Tech Writers

RESTON, Va.--(BUSINESS WIRE)--March 6, 2001

Paymentplus, the leader in global payment solutions and provider of enterprise-class electronic payment processing software, and PSINet Transaction Solutions, a wholly owned subsidiary of PSINet Inc. (NASDAQ:PSIX), today announced they have entered a strategic relationship to provide small and medium-sized businesses a fast, secure, real-time eCommerce payment solution.

PSINet Transaction Solutions (PTS), the leading provider of transaction-oriented data networks and services in North America and Europe, selected the Paymentplus payment processing software engine, LiveProcessor, to power PSINet Payment Exchange. Payment Exchange is a fast, multi-feature eCommerce payment-processing gateway that organizations can private-label and resell to their small- and medium-sized merchants and business customers.

"PTS is delighted to bring this service to market using Paymentplus technology," said Valeri Jacoutot, PTS Vice President of Product Management and Marketing. "Our customers - processors and other financial institutions - are eager to offer their merchant customers an easy-to-install eCommerce link that gives them a fast, secure, reliable way to accept online credit card payments from Internet shoppers."

"PSINet Transaction Solutions is well known and respected in the electronic payments business", said Jeff Foster, VP, Business Development of Paymentplus. "The fact that a company with expert knowledge of the payment processing industry will use LiveProcessor to process its transactions is a true testament to the superiority of our software engine."

PSINet Payment Exchange is also an integral part of PSINet Web Storefront, an end-to-end eCommerce solution that merchants and other businesses can use to create or enhance an online store that is immediately enabled with fast, secure credit card processing. PTS will license both easy-to-use solutions to financial institutions for resale to their merchant customers.

"PTS has long been the industry's preferred payment solutions provider because we offer customers a wide range of access options and built-in protocol conversion," explained Rod Lyman, President and COO of PTS. "Our relationship with Paymentplus allows us to offer additional valuable online payment options that make PTS payment solutions the most comprehensive in our industry."

About Paymentplus:

Paymentplus develops electronic payment processing software for the enterprise. Enterprise class capability means that LiveProcessor is able to combine transactions from online, call center, interactive voice response system and retail operations on a single, central server. LiveProcessor delivers a real-time interface to third-party payment processors such as First Data Corporation and Paymentech and a direct connection to American Express.

Paymentplus' LiveProcessor software completes over 400,000 transactions in 40 countries and 23 foreign currencies on a daily basis. Companies like Amana, AOL, AT&T, Bally's Total Fitness, Coca Cola, Concentric Networks, EDS, Global Crossing, NEC, NEXTEL, RealNetworks, Rexall Showcase, Snap-On Tools, Tupperware, Value Vision, Verizon Wireless, Virtual University Enterprises and XO Communications have all chosen Paymentplus' software for their payment processing needs. For more information on Paymentplus, Inc. please visit us at www.paymentplus.com.

About PSINet Transaction Solutions:

PSINet Transaction Solutions (PTS), headquartered in Reston, Virginia, is a wholly owned PSINet subsidiary. PTS, formerly Transaction Network Services, Inc. designs, builds, owns and operates data communications networks for transaction-oriented applications.

As the largest and most experienced provider of transaction specific networks and services in North America and Europe, PTS offers secure, reliable communications services over IP and X.25 networks to the largest financial firms. PTS originated the concept of a shared, high-speed, private network service exclusively dedicated to credit and debit card and other electronic commerce transactions.

PTS also provides transaction-oriented services to incumbent and competitive telecommunications service companies. PTS transmitted more than, 7.25 billion transactions over its POS network in 2000. Additional product and service information is available on the Web site, www.psi.com/tnsi.

This release contains information about management's view of the Company's future expectations, plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995.

Actual results may differ materially from those indicated by these forward-looking statements, as a result of a variety of factors including, but not limited to, competitive developments, risks associated with the Company's growth, the development of the Internet market, regulatory risks and other factors that are discussed in the Company's Annual Report on Form 10-K and other documents periodically filed with the SEC.