Ottawa, Canada, March 10, 2009 - Precidia Technologies Inc., a global leader in the design and manufacture of Internet Protocol (IP) payment and networking products, announced today a partnership with 403 Labs, LLC, a Payment Application Qualified Security Assessor (PA-QSA) for the Payment Card Industry. The two companies have partnered to introduce a unique reduced-cost PA-DSS (Payment Application Data Security Standard) Assessment Program for certain POS application developers using Precidia's TransNet payment engine software on the POSLynx220 payment router. In scenarios where the POS application or hardware does not store, process or transmit any transaction data, with the POSLynx220/TransNet handling the cardholder data, developers may be able to avoid PA-DSS validation altogether. The focus of this new program is to benefit application developers whose software accepts cardholder data before passing it to the POSLynx220, therefore requiring PA-DSS validation.

Beginning in January 2009, transaction processors are prevented from processing transactions from any POS application that is not PA-DSS validated. PA-DSS is the Payment Card Industry's benchmark for payment applications that store, process or transmit cardholder data. Its intent is to prevent breaches of cardholder data that cost the industry financially and erode consumer confidence. Transaction processors can only process transactions from merchants using PA-DSS validated payment applications, and application developers are responsible for obtaining validation from a PA-QSA. Many POS application developers are examining the value and cost of this task, which often draws scarce resources away from their core business.

The Precidia/403 Labs PA-DSS Assessment Program is designed to simplify the assessment and validation process for many of these developers. Precidia's TransNet payment engine solution features a PA-DSS validated payment application, which is housed on the secure, firewalled POSLynx220 payment router. This router-based solution is among the most secure in the industry for integrating credit card processing with existing POS equipment and applications. The Precidia/403 Labs Program will, upon request of an application developer using TransNet, provide a confirmation of their PA-DSS requirements, and will offer an assessment, if one is required, at a cost that is approximately 50-75% lower than if assessed independent of the TransNet/POSLynx220 solution. Applications that do not store, process or transmit any cardholder data typically have no PA-DSS requirements. This program is of benefit to developers whose applications accept and pass cardholder data through to the POSLynx220/TransNet. These application developers can receive a reduced-cost assessment from 403 Labs.

"Having undergone the process of PA-DSS validation, we can understand how onerous it is for developers for whom payments is not a core expertise," said Deepak Wanner, President of Precidia Technologies. "We wanted to make it easier and less costly for developers to get their software deployed with payment functionality. Although we believe many developers will be moving to offload 100% of their payment requirements onto our payment application, there will be many mid-sized developers who will be able to take advantage of this program to maintain and grow their business by becoming PA-DSS validated quickly and easily."

"As the PA-QSA for Precidia Technologies, we have validated each new version of the TransNet/POSLynx220 solution to PABP and now, PA-DSS standards," said Brad Lutgen, Manager of Marketing and Business Development for 403 Labs. "We are pleased to offer this program to developers of POS software, who wish to leverage TransNet's payment processing capabilities. This program will help these developers lower their overall development costs, while providing an effective way to comply with the PA-DSS requirements."

TransNet is used in a variety of retail payment applications, and integrates easily with ECRs, PC Systems, IP/Dial payment terminals, POS applications and even e-commerce websites. For more information on Precidia's Payment solutions, visit www.precidia.com/payments.

About Precidia Technologies
Precidia Technologies is a global leader in the design and manufacture of Internet Protocol (IP) payment and networking products. With customers in over 85 countries, Precidia offers unique products designed for simple serial networking, as well as a suite which manages the complexity of IP based payments in the retail industry. All of Precidia's products have been designed to maximize the potential of existing equipment, with deployment, monitoring, security and management tools. For more information, visit Precidia on the Web at http://www.precidia.com