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EXHIBIT 3.3

TRANSACTNET, INC.
(A DELAWARE CORPORATION)

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BYLAWS

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As adopted by the Board of Directors as of June 13, 1996.

TABLE OF CONTENTS

PAGE

Article I. OFFICES ................................................................................................ 1

Section 1.1 Registered Office ............................................................................. 1
Section 1.2 Additional Offices ............................................................................ 1

Article II. MEETINGS OF STOCKHOLDERS ............................................................................... 1

Section 2.1 Time and Place ................................................................................. 1
Section 2.2 Annual Meeting ................................................................................. 1
Section 2.3 Notice of Annual Meeting ....................................................................... 1
Section 2.4 Special Meetings ............................................................................... 1
Section 2.5 Notice of Special Meeting....................................................................... 2
Section 2.6 List of Stockholders............................................................................ 2
Section 2.7 Presiding Officer; Order of Business ........................................................... 2
Section 2.8 Quorum; Adjournments ........................................................................... 3
Section 2.9 Voting ......................................................................................... 4
Section 2.10 Action by Consent............................................................................... 4

Article III. DIRECTORS .............................................................................................. 5

Section 3.1 General Powers; Number; Tenure ................................................................. 5
Section 3.2 Vacancies ...................................................................................... 5
Section 3.3 Removal; Resignation............................................................................ 5
Section 3.4 Place of Meetings............................................................................... 6
Section 3.5 Annual Meeting ................................................................................. 6
Section 3.6 Regular Meetings ............................................................................... 6
Section 3.7 Special Meetings................................................................................ 6
Section 3.8 Quorum; Adjournments............................................................................ 6
Section 3.9 Compensation.................................................................................... 6
Section 3.10 Action by Consent............................................................................... 7
Section 3.11 Meetings by Telephone or Similar Communications................................................. 7

Article IV. COMMITTEES.............................................................................................. 7

Section 4.1 Executive Committee............................................................................. 7
Section 4.2 Powers.......................................................................................... 7
Section 4.3 Procedure; Meetings............................................................................. 8
Section 4.4 Quorum.......................................................................................... 8
Section 4.5 Other Committees................................................................................ 8
Section 4.6 Vacancies; Changes; Discharge................................................................... 8
Section 4.7 Compensation.................................................................................... 8
Section 4.8 Action by Consent............................................................................... 9
Section 4.9 Meetings by Telephone or Similar Communications ................................................ 9

Article V. NOTICES................................................................................................. 9

Section 5.1 Form; Delivery.................................................................................. 9
Section 5.2 Waiver.......................................................................................... 9

Article VI. OFFICERS............................................................................................... 10

Section 6.1 Designations................................................................................... 10
Section 6.2 Term of Office; Removal........................................................................ 10
Section 6.3 Compensation................................................................................... 10
Section 6.4 The Chairman of the Board...................................................................... 10
Section 6.5 The President.................................................................................. 11
Section 6.6 The Vice Presidents............................................................................ 11
Section 6.7 The Secretary.................................................................................. 11
Section 6.8 The Assistant Secretary........................................................................ 12
Section 6.9 The Treasurer.................................................................................. 12
Section 6.10 The Assistant Treasurer........................................................................ 12

Article VII. INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES
AND AGENTS........................................................................................ 13

Article VIII. AFFILIATED TRANSACTIONS AND INTERESTED DIRECTORS....................................................... 14

Section 8.1 Affiliated Transactions........................................................................ 14
Section 8.2 Determining Quorum............................................................................. 14

Article IX. STOCK CERTIFICATES........................................................................................ 15

Section 9.1 Form; Signatures............................................................................... 15
Section 9.2 Registration of Transfer....................................................................... 15
Section 9.3 Registered Stockholders........................................................................ 15
Section 9.4 Record Date.................................................................................... 16
Section 9.5 Lost, Stolen or Destroyed Certificates......................................................... 16

Article X. GENERAL PROVISIONS...................................................................................... 16

Section 10.1 Dividends...................................................................................... 16
Section 10.2 Reserves....................................................................................... 17
Section 10.3 Fiscal Year.................................................................................... 17
Section 10.4 Seal........................................................................................... 17

Article XI. AMENDMENTS..............................................................................................17

SECRETARY'S CERTIFICATE................................................................................................18

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BYLAWS

TRANSACTNET, INC.

ARTICLE I

OFFICES

SECTION 1.1 REGISTERED OFFICE. The registered office of the Corporation
shall be at Prentice-Hall Corporation System, Inc., 1013 Centre Road, in the
City of Wilmington, County of New Castle, State of Delaware 19805.

SECTION 1.2 ADDITIONAL OFFICES. The Corporation may also have offices at
such other places, both within and without the State of Delaware, as the Board
of Directors may from time to time determine or as the business of the
Corporation may require.

ARTICLE II

MEETINGS OF STOCKHOLDERS

SECTION 2.1 TIME AND PLACE. A meeting of stockholders for any purpose may
be held at such time and place, within or without the State of Delaware, as the
Board of Directors may fix from time to time and as shall be stated in the
notice of the meeting or in a duly executed waiver of notice thereof.

SECTION 2.2 ANNUAL MEETING. Annual meetings of stockholders, commencing
with the year 1997, shall be held on the 15th day of June, if not a legal
holiday, or, if a legal holiday, then on the next secular day following, at 2
P.M., or at such other date and time as shall, from time to time, be designated
by the Board of Directors and stated in the notice of the meeting. At such
annual meeting, the stockholders shall elect a Board of Directors and transact
such other business as may properly be brought before the meeting.

SECTION 2.3 NOTICE OF ANNUAL MEETING. Written notice of the annual meeting,
stating the place, date and time thereof, shall be given to each stockholder
entitled to vote at such meeting not less than 10 (unless a longer period is
required by law) nor more than 60 days prior to the meeting.

SECTION 2.4 SPECIAL MEETINGS. Special meetings of the stockholders, for any
purpose or purposes, unless otherwise

prescribed by statute or by the Certificate of Incorporation, may be called by
the Chairman of the Board, if any, or the President and shall be called by the
President or Secretary at the request in writing of a majority of the Board of
Directors, or at the request in writing of the stockholders owning a majority of
the shares of capital stock of the Corporation issued and outstanding and
entitled to vote. Such request shall state the purpose or purposes of the
proposed meeting.

SECTION 2.5 NOTICE OF SPECIAL MEETING. Written notice of a special meeting,
stating the place, date and time thereof and the purpose or purposes for which
the meeting is called, shall be given to each stockholder entitled to vote at
such meeting not less than 10 (unless a longer period is required by law) nor
more than 60 days prior to the meeting.

SECTION 2.6 LIST OF STOCKHOLDERS. The officer in charge of the stock ledger
of the Corporation or the transfer agent shall prepare and make, at least 10
days before every meeting of stockholders, a complete list of the stockholders
entitled to vote at the meeting, arranged in alphabetical order, and showing the
address of each stockholder and the number of shares registered in the name of
each stockholder. Such list shall be open to the examination of any stockholder,
for any purpose germane to the meeting, during ordinary business hours, for a
period of at least 10 days prior to the meeting, at a place within the city
where the meeting is to be held, which place, if other than the place of the
meeting, shall be specified in the notice of the meeting. The list shall also be
produced and kept at the time and place of the meeting during the whole time
thereof, and may be inspected by any stockholder who is present in person
thereat.

SECTION 2.7 PRESIDING OFFICER; ORDER OF BUSINESS.

(a) Meetings of stockholders shall be presided over by the Chairman of
the Board, if any, or, if he is not present (or, if there is none), by the
President, or, if he is not present, by a Vice President, or, if he is not
present, by such person who may have been chosen by the Board of Directors, or,
if none of such persons is present, by a chairman to be chosen by the
stockholders owning a majority of the shares of capital stock of the Corporation
issued and outstanding and entitled to vote at the meeting and who are present
in person or represented by proxy. The Secretary of the Corporation, or, if he
is not present, an Assistant Secretary, or, if he is not present, such person as
may be chosen by the Board of Directors, shall act as secretary of meetings of
stockholders, or, if none of such

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persons is present, the stockholders owning a majority of the shares of capital
stock of the Corporation issued and outstanding and entitled to vote at the
meeting and who are present in person or represented by proxy shall choose any
person present to act as secretary of the meeting.

(b) The following order of business, unless otherwise ordered at the
meeting, shall be observed as far as practicable and consistent with the
purposes of the meeting:

1. Call of the meeting to order.

2. Presentation of proof of mailing of the notice of the
meeting and, if the meeting is a special meeting, the call
thereof.

3. Presentation of proxies.

4. Announcement that a quorum is present.

5. Reading and approval of the minutes of the previous meeting.

6. Reports, if any, of officers.

7. Election of directors, if the meeting is an annual meeting
or a meeting called for that purpose.

8. Consideration of the specific purpose or purposes for which
the meeting has been called (other than the election of
directors), if the meeting is a special meeting.

9. Transaction of such other business as may properly come
before the meeting.

10. Adjournment.

SECTION 2.8 QUORUM; ADJOURNMENTS. The holders of a majority of the shares
of capital stock of the Corporation issued and outstanding and entitled to vote
thereat, present in person or represented by proxy, shall be necessary to, and
shall constitute a quorum for, the transaction of business at all meetings of
the stockholders, except as otherwise provided by statute or by the Certificate
of Incorporation. If, however, a quorum shall not be present or represented at
any meeting of the stockholders, the stockholders entitled to vote thereat,
present in person or represented by proxy, shall have the power to

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adjourn the meeting from time to time, without notice of the adjourned meeting
if the time and place thereof are announced at the meeting at which the
adjournment is taken, until a quorum shall be present or represented. Even if a
quorum shall be present or represented at any meeting of the stockholders, the
stockholders entitled to vote thereat, present in person or represented by
proxy, shall have the power to adjourn the meeting from time to time for good
cause, without notice of the adjourned meeting if the time and place thereof are
announced at the meeting at which the adjournment is taken, until a date which
is not more than 30 days after the date of the original meeting. At any such
adjourned meeting, at which a quorum shall be present in person or represented
by proxy, any business may be transacted which might have been transacted at the
meeting as originally called. If the adjournment is for more than 30 days, or if
after the adjournment a new record date is fixed for the adjourned meeting, a
notice of the adjourned meeting shall be given to each stockholder of record
entitled to vote thereat.

SECTION 2.9 VOTING.

(a) At any meeting of stockholders, every stockholder having the right
to vote shall be entitled to vote in person or by proxy. Except as otherwise
provided by law or the Certificate of Incorporation, each stockholder of record
shall be entitled to one vote for each share of capital stock registered in his
name on the books of the Corporation.

(b) All elections shall be determined by a plurality vote, and, except
as otherwise provided by law or the Certificate of Incorporation, all other
matters shall be determined by a vote of a majority of the shares present in
person or represented by proxy and voting on such other matters.

SECTION 2.10 ACTION BY CONSENT. Any action required or permitted by law or
the Certificate of Incorporation to be taken at any meeting of stockholders may
be taken without a meeting, without prior notice and without a vote, if a
written consent, setting forth the action so taken, shall be signed by the
holders of outstanding stock having not less than the minimum number of votes
that would be necessary to authorize or take such action at a meeting at which
all shares entitled to vote thereon were present or represented by proxy and
voted. Such written consent shall be filed with the minutes of meetings of
stockholders. Prompt notice of the taking of the corporate action without a
meeting by less than unanimous written consent shall be given to those
stockholders who have not so consented in writing thereto.

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ARTICLE III

DIRECTORS

SECTION 3.1 GENERAL POWERS; NUMBER; TENURE. The business of the Corporation
shall be managed by its Board of Directors, which may exercise all powers of the
Corporation and perform all lawful acts and things which are not by law, the
Certificate of Incorporation or these Bylaws directed or required to be
exercised or performed by the stockholders. Within the limits specified in this
Section 1, the number of directors shall be determined by the Board of
Directors, except that if no such determination is made, the number of directors
shall be three (3), but may never be less than the number otherwise permitted by
law. The directors shall be elected at the annual meeting of the stockholders,
except as provided in Section 2 of this Article, and each director elected shall
hold office until his successor is elected and shall qualify. Directors need not
be stockholders.

SECTION 3.2 VACANCIES. If any vacancies occur in the Board of Directors, or
if any new directorships are created, they may be filled by vote of a majority
of the directors then in office, although less than a quorum, or by a sole
remaining director. Each director so chosen shall hold office until the next
annual meeting of stockholders and until his successor is duly elected and shall
qualify. If there are no directors in office, any officer or stockholder may
call a special meeting of stockholders in accordance with the provisions of the
Certificate of Incorporation or these Bylaws, at which meeting such vacancies
shall be filled.

SECTION 3.3 REMOVAL; RESIGNATION.

(a) Except as otherwise provided by law or the Certificate of
Incorporation, any director, directors or the entire Board of Directors may be
removed, with or without cause, by the holders of a majority of the shares then
entitled to vote at an election of directors.

(b) Any director may resign at any time by giving written notice to
the Board of Directors, the Chairman of the Board, the President or the
Secretary of the Corporation. Unless otherwise specified in such written notice,
a resignation shall take effect upon delivery thereof to the Board of

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Directors or the designated officer. It shall not be necessary for a resignation
to be accepted before it becomes effective.

SECTION 3.4 PLACE OF MEETINGS. The Board of Directors may hold meetings,
both regular and special, either within or without the State of Delaware.

SECTION 3.5 ANNUAL MEETING. The annual meeting of each newly elected Board
of Directors shall be held immediately following the annual meeting of
stockholders, and no notice of such meeting shall be necessary to the newly
elected directors in order legally to constitute the meeting, provided a quorum
shall be present.

SECTION 3.6 REGULAR MEETINGS. Additional regular meetings of the Board of
Directors may be held without notice, at such time and place as may from time to
time be determined by the Board of Directors.

SECTION 3.7 SPECIAL MEETINGS. Special meetings of the Board of Directors
may be called by the Chairman of the Board, the President or by 2 or more
directors on at least 2 days' notice to each director, if such notice is
delivered personally or sent by telegram, or on at least 3 days' notice if sent
by mail. Special meetings shall be called by the Chairman of the Board,
President, Secretary or 2 or more directors in like manner and on like notice on
the written request of one-half or more of the number of directors then in
office. Any such notice need not state the purpose or purposes of such meeting
except as provided in ARTICLE XI.

SECTION 3.8 QUORUM; ADJOURNMENTS. At all meetings of the Board of
Directors, a majority of the directors then in office shall constitute a quorum
for the transaction of business, and the act of a majority of the directors
present at any meeting at which there is a quorum shall be the act of the Board
of Directors, except as may be otherwise specifically provided by law or the
Certificate of Incorporation. If a quorum is not present at any meeting of the
Board of Directors, the directors present may adjourn the meeting, from time to
time, without notice other than announcement at the meeting, until a quorum
shall be present.

SECTION 3.9 COMPENSATION. Directors shall be entitled to such compensation
for their services as directors and to such reimbursement for any reasonable
expenses incurred in attending directors' meetings as may from time to time be
fixed by the Board of Directors. The compensation of directors may be on

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such basis as is determined by the Board of Directors. Any director may waive
compensation for any meeting. Any director receiving compensation under these
provisions shall not be barred from serving the Corporation in any other
capacity and receiving compensation and reimbursement for reasonable expenses
for such other services.

SECTION 3.10 ACTION BY CONSENT. Any action required or permitted to be
taken at any meeting of the Board of Directors may be taken without a meeting if
a written consent to such action is signed by all members of the Board of
Directors and such written consent is filed with the minutes of its proceedings.

SECTION 3.11 MEETINGS BY TELEPHONE OR SIMILAR COMMUNICATIONS. The Board of
Directors may participate in a meeting by means of conference telephone or
similar communications equipment by means of which all directors participating
in the meeting can hear each other, and participation in such meeting shall
constitute presence in person by such director at such meeting.

ARTICLE IV

COMMITTEES

SECTION 4.1 EXECUTIVE COMMITTEE. The Board of Directors, by resolution
adopted by a majority of the whole Board, may appoint an Executive Committee
consisting of not more than 5 directors, one of whom shall be designated as
Chairman of the Executive Committee. Each member of the Executive Committee
shall continue as a member thereof until the expiration of his term as a
director, or his earlier resignation, unless sooner removed as a member or as a
director.

SECTION 4.2 POWERS. Unless circumscribed by resolution of the Board
appointing the Executive Committee or except as otherwise provided by law, the
Executive Committee shall have and may exercise all of the powers and authority
of the Board of Directors in the management of the business and affairs of the
Corporation including, without limitation, the power and authority to declare a
dividend in cash, property or its own shares and to authorize the issuance of
any shares of capital stock of the Corporation of any class now or hereafter
authorized, and any options or warrants for, and rights to subscribe to, such
shares, and any securities convertible into or exchangeable for such shares; and
may authorize the seal of

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the Corporation to be affixed to all papers which may require it.

SECTION 4.3 PROCEDURE; MEETINGS. The Executive Committee shall fix its own
rules of procedure and shall meet at such times and at such place or places as
may be provided by such rules or as the members of the Executive Committee shall
provide. The Executive Committee shall keep regular minutes of its meetings and
deliver such minutes to the Board of Directors.

The Chairman of the Executive Committee, or, in his absence, a member of
the Executive Committee chosen by a majority of the members present, shall
preside at meetings of the Executive Committee, and another member thereof
chosen by the Executive Committee shall act as Secretary of the Executive
Committee.

SECTION 4.4 QUORUM. A majority of the Executive Committee shall constitute
a quorum for the transaction of business, and the affirmative vote of a majority
of the members of the Executive Committee shall be required for any action of
the Executive Committee; provided, however, that when an Executive Committee of
one member is authorized under the provisions of Section 1 of this Article, such
one member shall constitute a quorum.

SECTION 4.5 OTHER COMMITTEES. The Board of Directors, by resolutions
adopted by a majority of the whole Board, may appoint such other committee or
committees as it shall deem advisable and with such functions and duties as the
Board of Directors shall prescribe.

SECTION 4.6 VACANCIES; CHANGES; DISCHARGE. The Board of Directors shall
have the power at any time to fill vacancies in, to change the membership of,
and to discharge any committee.

SECTION 4.7 COMPENSATION. Members of any committee shall be entitled to
such compensation for their services as members of any such committee and to
such reimbursement for any reasonable expenses incurred in attending committee
meetings as may from time to time be fixed by the Board of Directors. Any member
may waive compensation for any meeting. Any committee member receiving
compensation under these provisions shall not be barred from serving the
Corporation in any other capacity and from receiving compensation and
reimbursement of reasonable expenses for such other services.

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SECTION 4.8 ACTION BY CONSENT. Any action required or permitted to be taken
at any meeting of any committee of the Board of Directors may be taken without a
meeting if a written consent to such action is signed by all members of the
committee and such written consent is filed with the minutes of its proceedings.

SECTION 4.9 MEETINGS BY TELEPHONE OR SIMILAR COMMUNICATIONS. The members of
any committee designated by the Board of Directors may participate in a meeting
of such committee by means of a conference telephone or similar communications
equipment by means of which all persons participating in such meeting can hear
each other and participation in such meeting shall constitute presence in person
at such meeting.

ARTICLE V

NOTICES

SECTION 5.1 FORM; DELIVERY. Whenever, under the provisions of law, the
Certificate of Incorporation or these Bylaws, notice is required to be given to
any director or stockholder, it shall not be construed to mean personal notice
unless otherwise specifically provided, but such notice may be given in writing,
by mail, addressed to such director or stockholder, at his address as it appears
on the records of the Corporation, with postage thereon prepaid. Such notices
shall be deemed to be given at the time they are deposited in the United States
mail. Notice to a director may also be given personally or by telegram sent to
his address as it appears on the records of the Corporation.

SECTION 5.2 WAIVER. Whenever any notice is required to be given under the
provisions of law, the Certificate of Incorporation or these Bylaws, a written
waiver thereof, signed by the person or persons entitled to said notice, whether
before or after the time stated therein, shall be deemed to be equivalent to
such notice. In addition, any stockholder who attends a meeting of stockholders
in person, or is represented at such meeting by proxy, without protesting at the
commencement of the meeting the lack of notice thereof to him, or any director
who attends a meeting of the Board of Directors without protesting, at the
commencement of the meeting, such lack of notice, shall be conclusively deemed
to have waived notice of such meeting.

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ARTICLE VI

OFFICERS

SECTION 6.1 DESIGNATIONS. The officers of the Corporation shall be chosen
by the Board of Directors. The Board of Directors may choose a Chairman of the
Board, a Chief Executive Officer, a President, a Chief Operating Officer, a
Chief Financial Officer, a Vice President or Vice Presidents, a Secretary, a
Treasurer, one or more Assistant Secretaries and/or Assistant Treasurers and
other officers and agents as it shall deem necessary or appropriate. All
officers of the Corporation shall exercise such powers and perform such duties
as shall from time to time be determined by the Board of Directors. Any number
of offices may be held by the same person, unless the Certificate of
Incorporation or these Bylaws otherwise provide.

SECTION 6.2 TERM OF OFFICE; REMOVAL. The Board of Directors at its annual
meeting after each annual meeting of stockholders shall choose a President, a
Secretary and a Treasurer. The Board of Directors may also choose a Chairman of
the Board, a Chief Executive Officer, a Chief Operating Officer, a Chief
Financial Officer, a Vice President or Vice Presidents, one or more Assistant
Secretaries and/or Assistant Treasurers, and such other officers and agents as
it shall deem necessary or appropriate. Each officer of the Corporation shall
hold office until his successor is chosen and shall qualify. Any officer elected
or appointed by the Board of Directors may be removed, with or without cause, at
any time by the affirmative vote of a majority of the directors then in office.
Such removal shall not prejudice the contract rights, if any, of the person so
removed. Any vacancy occurring in any office of the Corporation may be filled
for the unexpired portion of the term by the Board of Directors.

SECTION 6.3 COMPENSATION. The salaries of all officers of the Corporation
shall be fixed from time to time by the Board of Directors and no officer shall
be prevented from receiving such salary by reason of the fact that he is also a
director of the Corporation.

SECTION 6.4 THE CHAIRMAN OF THE BOARD. The Chairman of the Board, if any,
shall be an officer of the Corporation and, subject to the direction of the
Board of Directors, shall perform such executive, supervisory and management
functions and duties as may be assigned to him from time to time by the Board

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of Directors. He shall, if present, preside at all meetings of stockholders and
of the Board of Directors.

SECTION 6.5 THE PRESIDENT.

(a) The President shall be the chief executive officer of the
Corporation and, subject to the direction of the Board of Directors, shall have
general charge of the business, affairs and property of the Corporation and
general supervision over its other officers and agents. In general, he shall
perform all duties incident to the office of President and shall see that all
orders and resolutions of the Board of Directors are carried into effect. In
addition to and not in limitation of the foregoing, the President shall be
empowered to authorize any change of the registered office or registered agent
(or both) of the Corporation in the State of Delaware.

(b) Unless otherwise prescribed by the Board of Directors, the
President shall have full power and authority on behalf of the Corporation to
attend, act and vote at any meeting of security holders of other corporations in
which the Corporation may hold securities. At such meeting the President shall
possess and may exercise any and all rights and powers incident to the ownership
of such securities which the Corporation might have possessed and exercised if
it had been present. The Board of Directors may from time to time confer like
powers upon any other person or persons.

SECTION 6.6 THE VICE PRESIDENTS. The Vice President, if any (or in the
event there be more than one, the Vice Presidents in the order designated, or in
the absence of any designation, in the order of their election), shall, in the
absence of the President or in the event of his disability, perform the duties
and exercise the powers of the President and shall generally assist the
President and perform such other duties and have such other powers as may from
time to time be prescribed by the Board of Directors.

SECTION 6.7 THE SECRETARY. The Secretary shall attend all meetings of the
Board of Directors and all meetings of stockholders and record all votes and the
proceedings of the meetings in a book to be kept for that purpose and shall
perform like duties for the Executive Committee or other committees, if
required. He shall give, or cause to be given, notice of all meetings of
stockholders and special meetings of the Board of Directors, and shall perform
such other duties as may from time to time be prescribed by the Board of
Directors, the Chairman of the Board or the President, under whose supervision
he shall

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act. He shall have custody of the seal of the Corporation, and he, or an
Assistant Secretary, shall have authority to affix the same to any instrument
requiring it, and, when so affixed, the seal may be attested by his signature or
by the signature of such Assistant Secretary. The Board of Directors may give
general authority to any other officer to affix the seal of the Corporation and
to attest the affixing thereof by his signature.

SECTION 6.8 THE ASSISTANT SECRETARY. The Assistant Secretary, if any (or in
the event there be more than one, the Assistant Secretaries in the order
designated, or in the absence of any designation, in the order of their
election), shall, in the absence of the Secretary or in the event of his
disability, perform the duties and exercise the powers of the Secretary and
shall perform such other duties and have such other powers as may from time to
time be prescribed by the Board of Directors.

SECTION 6.9 THE TREASURER. The Treasurer shall have the custody of the
corporate funds and other valuable effects, including securities, and shall keep
full and accurate accounts of receipts and disbursements in books belonging to
the Corporation and shall deposit all moneys and other valuable effects in the
name and to the credit of the Corporation in such depositories as may from time
to time be designated by the Board of Directors. He shall disburse the funds of
the Corporation as may be ordered by the Board of Directors, taking proper
vouchers for such disbursements, and shall render to the Chairman of the Board,
the President and the Board of Directors, at regular meetings of the Board, or
whenever they may require it, an account of all his transactions as Treasurer
and of the financial condition of the Corporation.

SECTION 6.10 THE ASSISTANT TREASURER. The Assistant Treasurer, if any (or
in the event there shall be more than one, the Assistant Treasurers in the order
designated, or in the absence of any designation, in the order of their
election), shall, in the absence of the Treasurer or in the event of his
disability, perform the duties and exercise the powers of the Treasurer and
shall perform such other duties and have such other powers as may from time to
time be prescribed by the Board of Directors.

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ARTICLE VII

INDEMNIFICATION OF DIRECTORS, OFFICERS, EMPLOYEES AND AGENTS

Reference is made to Section 145 (and any other relevant provisions) of the
General Corporation Law of the State of Delaware. Particular reference is made
to the class of persons (hereinafter called "Indemnitees") who may be
indemnified by a Delaware corporation pursuant to the provisions of such Section
145, namely, any person (or the heirs, executors or administrators of such
person) who was or is a party or is threatened to be made a party to any
threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative, by reason of the fact that such
person is or was a director, officer, employee or agent of such corporation, or
is or was serving at the request of such corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or
other enterprise. The Corporation shall (and is hereby obligated to) indemnify
the Indemnitees, and each of them, in each and every situation where the
Corporation is obligated to make such indemnification pursuant to the aforesaid
statutory provisions. The Corporation shall indemnify the Indemnitees, and each
of them, in each and every situation where, under the aforesaid statutory
provisions, the Corporation is not obligated, but is nevertheless permitted or
empowered, to make such indemnification, it being understood, that, before
making such indemnification with respect to any situation covered under this
sentence, the Corporation shall promptly make or cause to be made, by any of the
methods referred to in subsection (d) of such Section 145, a determination as to
whether each Indemnitee acted in good faith and in a manner such Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Corporation, and, in the case of any criminal action or proceeding, had no
reasonable cause to believe that such Indemnitee's conduct was unlawful. No such
indemnification shall be made (where not required by statute) unless it is
determined that such Indemnitee acted in good faith and in a manner such
Indemnitee reasonably believed to be in or not opposed to the best interests of
the Corporation, and, in the case of any criminal action or proceeding, had no
reasonable cause to believe that such Indemnitee's conduct was unlawful.

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ARTICLE VIII

AFFILIATED TRANSACTIONS AND INTERESTED DIRECTORS

SECTION 8.1 AFFILIATED TRANSACTIONS. No contract or transaction between the
Corporation and one or more of its directors or officers, or between the
Corporation and any other corporation, partnership, association or other
organization in which one or more of its directors or officers are directors or
officers, or have a financial interest, shall be void or voidable solely for
this reason, or solely because the director or officer is present at or
participates in the meeting of the Board of Directors or committee thereof which
authorizes the contract or transaction or solely because his or their votes are
counted for such purpose, if:

(a) The material facts as to his relationship or interest and as to
the contract or transaction are disclosed or are known to the Board of Directors
or the committee, and the Board of Directors or committee in good faith
authorizes the contract or transaction by the affirmative vote of a majority of
the disinterested directors, even though the disinterested directors be less
than a quorum; or

(b) The material facts as to his relationship or interest and as to
the contract or transaction are disclosed or are known to the stockholders
entitled to vote thereon, and the contract or transaction is specifically
approved in good faith by vote of the stockholders; or

(c) The contract or transaction is fair as to the Corporation as of
the time it is authorized, approved or ratified by the Board of Directors, a
committee thereof, or the stockholders.

SECTION 8.2 DETERMINING QUORUM. Common or interested directors may be
counted in determining the presence of a quorum at a meeting of the Board of
Directors or of a committee thereof which authorizes the contract or
transaction.

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ARTICLE IX

STOCK CERTIFICATES

SECTION 9.1 FORM; SIGNATURES.

(a) Every holder of stock in the Corporation shall be entitled to have
a certificate, signed by the Chairman of the Board or the President and the
Treasurer or an Assistant Treasurer or the Secretary or an Assistant Secretary
of the Corporation, exhibiting the number and class (and series, if any) of
shares owned by him, and bearing the seal of the Corporation. Such signatures
and seal may be facsimile. A certificate may be manually signed by a transfer
agent or registrar other than the Corporation or its employee but may be a
facsimile. In case any officer who has signed, or whose facsimile signature was
placed on, a certificate shall have ceased to be such officer before such
certificate is issued, it may nevertheless be issued by the Corporation with the
same effect as if he were such officer at the date of its issue.

(b) All stock certificates representing shares of capital stock which
are subject to restrictions on transfer or to other restrictions may have
imprinted thereon such notation to such effect as may be determined by the Board
of Directors.

SECTION 9.2 REGISTRATION OF TRANSFER. Upon surrender to the Corporation or
any transfer agent of the Corporation of a certificate for shares duly endorsed
or accompanied by proper evidence of succession, assignment or authority to
transfer, it shall be the duty of the Corporation or its transfer agent to issue
a new certificate to the person entitled thereto, to cancel the old certificate
and to record the transaction upon its books.

SECTION 9.3 REGISTERED STOCKHOLDERS.

(a) Except as otherwise provided by law, the Corporation shall be
entitled to recognize the exclusive right of a person who is registered on its
books as the owner of shares of its capital stock to receive dividends or other
distributions, to vote as such owner, and to hold liable for calls and
assessments any person who is registered on its books as the owner of shares of
its capital stock. The Corporation shall not be bound to recognize any equitable
or legal claim to or interest in such shares on the part of any other person.

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(b) If a stockholder desires that notices and/or dividends shall be
sent to a name or address other than the name or address appearing on the stock
ledger maintained by the Corporation (or by the transfer agent or registrar, if
any), such stockholder shall have the duty to notify the Corporation (or the
transfer agent or registrar, if any) in writing, of such desire. Such written
notice shall specify the alternate name or address to be used.

SECTION 9.4 RECORD DATE. In order that the Corporation may determine the
stockholders of record who are entitled to notice of or to vote at any meeting
of stockholders or any adjournment thereof, or entitled to receive payment of
any dividend or other distribution, or to make a determination of the
stockholders of record for any other proper purpose, the Board of Directors may,
in advance, fix a date as the record date for any such determination. Such date
shall not be more than 60 nor less than 10 days before the date of such meeting,
nor more than 60 days prior to the date of any other action. A determination of
stockholders of record entitled to notice of or to vote at a meeting of
stockholders shall apply to any adjournment of the meeting taken pursuant to
Section 8 of Article II; provided, however, that the Board of Directors may fix
a new record date for the adjourned meeting.

SECTION 9.5 LOST, STOLEN OR DESTROYED CERTIFICATES. The Board of Directors
may direct a new certificate to be issued in place of any certificate
theretofore issued by the Corporation which is claimed to have been lost, stolen
or destroyed, upon the making of an affidavit of that fact by the person
claiming the certificate of stock to be lost, stolen or destroyed. When
authorizing such issue of a new certificate, the Board of Directors may, in its
discretion and as a condition precedent to the issuance thereof, require the
owner of such lost, stolen or destroyed certificate, or his legal
representative, to advertise the same in such manner as it shall require and/or
to give the Corporation a bond in such sum, or other security in such form, as
it may direct as indemnity against any claim that may be made against the
Corporation with respect to the certificate claimed to have been lost, stolen or
destroyed.

ARTICLE X

GENERAL PROVISIONS

SECTION 10.1 DIVIDENDS. Subject to the provisions of the Certificate of
Incorporation, dividends upon the outstanding

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capital stock of the Corporation may be declared by the Board of Directors at
any regular or special meeting, pursuant to law, and may be paid in cash, in
property or in shares of the Corporation's capital stock.

SECTION 10.2 RESERVES. The Board of Directors shall have full power,
subject to the provisions of law and the Certificate of Incorporation, to
determine whether any, and, if so, what part, of the funds legally available for
the payment of dividends shall be declared as dividends and paid to the
stockholders of the Corporation. The Board of Directors, in its sole discretion,
may fix a sum which may be set aside or reserved over and above the paid-in
capital of the Corporation for working capital or as a reserve for any proper
purpose, and may, from time to time, increase, diminish or vary such fund or
funds.

SECTION 10.3 FISCAL YEAR. The fiscal year of the Corporation shall be as
determined from time to time by the Board of Directors.

SECTION 10.4 SEAL. The corporate seal shall have inscribed thereon the name
of the Corporation, the year of its incorporation and the words "Corporate Seal"
and "Delaware".

ARTICLE XI

AMENDMENTS

The Board of Directors shall have the power to make, alter and repeal these
Bylaws, and to adopt new bylaws, by an affirmative vote of a majority of the
whole Board, provided that notice of the proposal to make, alter or repeal these
Bylaws, or to adopt new bylaws, must be included in the notice of the meeting of
the Board of Directors at which such action takes place.

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SECRETARY'S CERTIFICATE

I, CAREN DEWITT MERRICK, Secretary of TRANSACTNET, INC. (the
"Corporation"), a Delaware corporation, DO HEREBY CERTIFY that the foregoing is
a true and correct copy of the Corporation's Bylaws as adopted by the Board of
Directors of the Corporation effective as of June 13, 1996.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Corporate
Seal of the Corporation as of the 13th day of June, 1996.

/s/ CAREN DEWITT MERRICK
-----------------------------------
Caren DeWitt Merrick, Secretary

[Corporate Seal]

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