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Leading Seller of Magazine Subscriptions Selects PaymentOne to Accelerate Subscriber Growth

San Jose, CA — January 22, 2004 — Payment One® Corporation, the Internet’s leading payment service provider, today announced that Synapse Group Inc., a subsidiary of Time Warner and the leading provider of customer acquisition and management services for US publishers of consumer magazines, has selected PaymentOne to provide payment processing, fraud control and commerce management services.

As a critical component of their online strategy, Synapse will implement PaymentOne’s alternative payment options, including their proprietary PhoneBill ™ service. According to the UCLA Internet Report, over 92% of consumers are “somewhat or extremely concerned” about security when transacting online. PaymentOne’s non-credit card alternative payment options provide Synapse consumers with an easy, fraud-free payment method that does not require the entry of any private financial information.

“Customer acquisition is our business, and providing our consumers an easier payment experience is key to our success,” said Michael Loeb, President, Synapse. “PaymentOne’s strategic approach to payments has clearly demonstrated an ability to reach and satisfy a much wider set of target consumers. Compared to other ‘traditional’ payment processors, PaymentOne provides a much higher value-add and unique best practices approach that we did not see elsewhere in the market."

“As more and more online providers grow their fee-based offerings, we have seen strong demand to make the payment experience easier and more secure for a more diverse base of consumers,” said Don Teague, Executive Vice President, PaymentOne. “Many potential consumers do not transact because of significant concerns and frustrations around the payment process. We are pleased to be working with Synapse, a leader in the consumer marketing arena, to remove these point-of-purchase barriers.”

About Synapse Group, Inc

About PaymentOne

PaymentOne's platform has processed over $6 billion in retail billings, over 1 billion transactions, and has delivered its clients incremental annual gains of over 25% in revenue and consumer acquisition rates. PaymentOne, privately held in Silicon Valley, recently ranked in the Top 10 on the Deloitte & Touche prestigious "2003 Technology Fast 50" for Silicon Valley, and #39 on the D&T Fast 500, a ranking of the 500 fastest growing technology companies in North America. To learn more about PaymentOne, visit www.Paymentone.com or call 800-747-4028.

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