VerifyNGo Now Live Worldwide with VeriSmart Visa Holders

TAGUIG, Metro Manila, Philippines, Oct. 5 /PRNewswire-FirstCall/ -
VerifySmart(TM) Corp. (VSMR: OTCBB): ("VerifySmart" or the "Company"), a
global leader in secure and fraud free credit and debit payment processing
services, is pleased to announce the successful implementation of its
patent-pending PIN authentication system, VerifyNGo(TM), for immediate
worldwide use with its VeriSmart(TM) Cards. VerifySmart customers in Europe,
Asia and North America can now instantly and securely disburse funds through
VeriSmart Visa cards using their own personal PIN to authenticate transfers.
"This fundamental integration between our transfer system, VerifyTransfer(TM),
and our authentication protocol, VerifyNGo(TM), was a natural and necessary
evolution to provide our customers with the security they've come to rely on
from VerifySmart. It is truly the first of its kind in the world especially
coupled with VeriSmart(TM) Cards. Consistent with our goal, we are hard at
work to continually advance our technology to ensure transactions we
facilitate remain fraud-free thus protecting merchants, financial
institutions, and consumers alike." Ralph Santos, VerifySmart CEO and
President, has also been in multiple discussions of late with strategic
companies interested in VerifySmart's offerings. "We are excited to be in this
space marking our leadership position as we progress our dialogue with
potential partners and customers equally excited with the prospect of
dramatically increasing their value proposition by eradicating fraud from
their core business," he adds.

The Process

Using VerifyTransfer(TM), senders can securely and instantly send money
worldwide on the VeriSmart(TM) Visa Cards. Recipients receive an
authentication message on the cell phone number provided by the sender
requiring PIN validation to complete the transaction. Only when the correct
PIN is entered does the transaction go through. When the card, the cell phone,
of the PIN is compromised, the transaction fails and fraud is averted.

About VerifyTransfer(TM)

VerifyTransfer(TM) - VerifyTransfer(TM) enables secure, simple and fast money
transfer to single or multiple recipients. VerifyTransfer(TM) offers
enterprise customers a simple and seamless solution for sending and receiving
money instantly, using VerifyGateway(TM), and its SMS (text) enabled protocol
for processing large volumes and cash quickly and securely. By utilizing
VerifyTransfer(TM) and VerifyGateway(TM) technologies - two of VerifySmart's
comprehensive suite of fraud detection and prevention platforms - financial
institutions, telecoms, information technology and other enterprise clients,
'and their clients' benefit from the most advanced online money transfer and
credit and debit card security technology in the world. VerifySmart
technologies build maximum security and flexibility into a variety of
financial transactions in person, online, in wireless environments and over
traditional phone lines. VerifyTransfer(TM) advantages include:

- Comprehensive reporting on all transaction activities and customer
accounts

- Next generation security, fraud monitoring and reporting

- 24/7/365 customer support

- Multiple accounts for recipients

- Flexibility of payment source

- Integration with sophisticated retrieval methods, including Visa
remittance

- Makes remittance payments easier

- Speeds up data transmission

- Increases accuracy and speed of contributions to member accounts

- Provides easy access to details of past transactions and remittance
history.

VerifySmart management believes that, in relatively few years, current debit
and credit card fraud prevention and detection technologies will be obsolete,
including the current Chip and PIN technology. And further, that their suite
of next generation fraud detection and prevention technologies will initiate a
sea-change in security standards.
Chip and PIN technology, which originated in the UK in 2004 and launched
recently in parts of North America has disappointed the industry. In 2008
APACS (Association of Payment Clearing Services) reported card-only fraud
losses as a percentage of card turnover amounted to 0.12%. Prior to the
introduction of Chip and PIN, this same statistic was 0.14% - a mere 0.02%
reduction in losses gained at the expense of tens of millions in technology
modifications.

About VerifySmart

VerifySmart(TM) Corp designed and developed a Proprietary Hardware/Software
Solution that solves Credit/Debit Card fraud by using two Factor
Authentication.
The Company's Core Technology is designed to meet the needs of the Security
challenged Trans action Processing Industry. Present day solutions, such as
Verified by Visa, Chip and Pin and CVV Code (all which can be compromised)
have not reduced payment card fraud by any significant factor.
The VerifySmart solution has reduced fraud to zero in earlier production
pilots. the Company's proven and highly scalable solution is gaining worldwide
attention and placing VerifySmart at the forefront of the fraud prevention
revolution.

Forward Looking Statements

This current report contains "forward-looking statements", as that term is
defined in Section 27A of the United States Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Statements in this current report
which are not purely historical are forward-looking statements and include any
statements regarding beliefs, plans, expectations or intentions regarding the
future.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others, the
inherent uncertainty of financial estimates and projections, the competitive
and regulatory environment for start up software companies, stock market
conditions, unforeseen technical difficulties and our ongoing ability to
operate a business and obtain financing. These forward-looking statements are
made as of the date of this current report, and we assume no obligation to
update the forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking statements.
Although we believe that our beliefs, plans, expectations and intentions
contained in this current report are reasonable, there can be no assurance
that such beliefs, plans, expectations or intentions will prove to be
accurate. Investors should consult all of the information set forth herein and
should also refer to the risk factors disclosure outlined in our annual report
on Form 10-K for the 2008 fiscal year, our quarterly reports on Form 10-Q and
our other periodic reports filed from time-to-time with the Securities and
Exchange Commission pursuant to the Securities Exchange Act.

Corporate Headquarters
Fort Legend Towers, Suite 2002 - 3rd Avenue corner 31st Street
E-Square, Fort Bonifacio Global City, Taguig
Metro Manila, Philippines
Investor Relations
1-877-685-1584
Questions or Feedback
inquiry@verifysmart.com
www.verifysmart.com

SOURCE VerifySmart Corp.

Corporate Headquarters, Fort Legend Towers, Suite 2002 - 3rd Avenue corner
31st Street, E-Square, Fort Bonifacio Global City, Taguig, Metro Manila,
Philippines, Investor Relations, 1-877-685-1584; Questions or Feedback,
inquiry@verifysmart.com, www.verifysmart.com