Paystone announces that operation of the Paystone Online Payment System will be transitioned into suspension beginning December 19, 2008. From and after such date, no loading, GroupPay or send money transactions may be completed, new accounts may not be opened and new Paystone ATM cards will not be issued. Personal and merchant account holders will continue to be able to cash out any balances in their accounts and must do so before December 31, 2008. Paystone encourages you to cash out by direct transfer to your bank account in Canada, the U.S.A or other supported countries as the most secure, cheapest and fastest cash out method. To cash out the cash balance in your account, log in to your account here.

The operation of Paystone's e-Pera money remittance service to the Philippines through Paystone representatives is not affected by the suspension of the Paystone Online Payment System. However, the ability to send money to the Philippines through Paystone's Online System will also be discontinued as of December 19, 2008. E Pera users wishing to send money to the Philippines should contact their Paystone representative in the usual manner.

Paystone would like to thank all members who have used and supported the Paystone Online Payment System over the past 5 years. Unfortunately, recent legislative and regulatory changes in Canada adversely impact Paystone's on-line business model, rendering continued operation impractical.