Pay Linx Grants Stock Options to Directors Edmonton AB October

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					Pay Linx Grants Stock Options to Directors
Edmonton, AB, October 24, 2008 – Pay Linx Financial Corporation (“Pay Linx” or the “Company”) (TSXV: PIN), provider of services and infrastructure enabling the replacement of cash and cheque payments with electronic payment cards, announced today that it has granted a total of 311,000 options at an exercise price of $0.15 per share to the directors as compensation for their services in Q4 2008. In July 2008, the Pay Linx board implemented a compensation plan (the “Plan”) for the directors of the Company that is based entirely in the form of options, pursuant to the Company’s Stock Option Plan. Since the Company’s formation in 2006, no cash has been paid for Directors’ fees. The Plan is based on a total annual expense budget for Directors’ fees of $65,000, with this expense amount converted, using the Black Scholes model, into options which are issued on a quarterly basis. In accordance with the Plan, options were issued in July for the third quarter in addition to the 311,000 issued at $0.15. About Pay Linx Pay Linx Financial Corporation (TSX-V: PIN) delivers affordable, accessible and contemporary payment processing services that integrate seamlessly into the Interac and MasterCard financial networks in North America. Pay Linx, which is 25% owned by Royal Bank of Canada (“RBC”), provides services to RBC for Canadian governments through QuickLinxTM replacing cheque and voucher payments. Pay Linx, through Bank West, a Canadian financial institution, and Palm Desert National Bank, a United States financial institution, also delivers new and innovative financial payment solutions for corporations to better serve their customers. Pay Linx services support governments and corporations to replace cash and cheque payments based on services and infrastructure provided by Pay Linx. Pay Linx instant issuing services allow corporations to issue and fund a Pre-Paid Interac or MasterCard in real time allowing the beneficiary to select their own PIN number using a Pay Linx PIN and Card Activation terminal. This allows the beneficiary to have instant access to funds that can be reloaded by the corporation. Forward-Looking Statements The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Certain statements contained herein may constitute forward-looking statements. These statements relate to future events or our future performance. All statements other than Statements of historical fact may be forward-looking statements. Forward looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. We believe that the expectations reflected in the forward-looking statements are reasonable based upon management's current views but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. No assurance can be given that actual results, performance or achievement expressed in, or implied by these forward-looking statements will occur, or if they do, that any benefits may be derived from them. Past results have been applied in drawing a conclusion or making a forecast or projection set out in the forward-looking information. FOR FURTHER INFORMATION PLEASE CONTACT: Ian McNeill President and CEO Pay Linx Financial Corporation Tel: 780-702-4710 Email: Ian.Mcneill@PayLinx.ca www.paylinx.ca Marshall Rosichuk, CMA CFO Pay Linx Financial Corporation Tel: 780-702-4702 Email: Marshall.Rosichuk@PayLinx.ca www.paylinx.ca

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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