Exhibit 10.2

                   DIRECT INSITE ANNOUNCES $2M INVESTMENT BY
                         METROPOLITAN VENTURE PARTNERS

  Peter Yunich, MetVP Managing Partner, Joins Direct Insite Board of Directors


FOR RELEASE (Oct 10, 2002):

     Bohemia,  N.Y. - October 10, 2002  --Direct  Insite  Corp.  (NASDAQ:  DIRI)
announced today that  Metropolitan  Venture Partners  (MetVP),  a private equity
firm that  invests  in  technology-based  businesses,  has agreed to be the sole
investor in a private placement of $2 Million in the form of convertible  Series
A Preferred shares.

     Warren Wright, CEO of Direct Insite said, "MetVP's strategy of investing in
high growth  technology-based  businesses,  backing  teams with the  ambition to
build  enduring  companies  that  address  global  markets  exactly  matches our
position  in the  market  place  and the  Company's  strategic  direction.  As a
seasoned  institutional investor with a clear understanding of the importance to
rapidly  increasing  shareholder value, we look forward to working with MetVP in
achieving our common goals".

     Jim Cannavino,  chairman of the board of directors, said, "We welcome MetVP
to our community of investors and are particularly excited to have Peter Yunich,
MetVP Managing Partner, join the Direct Insite Board of Directors.  Peter brings
an excellent understanding of information technology, and of the challenges with
deploying business solutions to global markets." Mr. Cannavino added, "On behalf
of myself and the other  members of the Board,  we look  forward to having MetVP
and Peter's involvement as we move Direct Insite in to the global market place."

     "When we evaluated Direct Insite Corp.'s  business,  we determined that the
combination of their innovative technology, sustainable value proposition and an
experienced  management  team  was a  strong  fit  relative  to  our  investment
criteria," said MetVP Managing Partner, Peter Yunich. "Direct Insite has entered
the Electronic Bill  Presentment and Payment (EBP&P) market with a comprehensive
offering  that is being  deployed  globally,  which  offers a  compelling  value
proposition  to its users." Mr.  Yunich  added:  "I  personally  look forward to
working with Jim Cannavino and other members of Direct Insite's Board in molding
the strategic direction for the company".

About Direct Insite Corp.:
Direct  Insite Corp  operates  primarily  as an  Application  Service  Provider,
generally referred to as an ASP, providing high volume data processing, analysis
and  graphical  presentation  tools  for their  customers.  The  Company's  core
technology, d.b.Express(TM), is a management information tool providing targeted
access  through  the  mining  of large  volumes  of  transactional  data via the
Internet.  The Company has overcome a major Internet problem,  that of high data
volume  and  limited  bandwidth,   currently   responsible  for  lengthy  delays
associated  with data  downloading.  Data can be  visually  presented  using the
Company's patented data visualization  technology.  Additionally,  Direct Insite



now  offers a  complete  outsourced  Electronic  Bill  Presentment  and  Payment
solution,  as  well  as an  Internet  Customer  Care  tool  set  built  on  it's
proprietary dbExpress technology. Through it's wholly owned subsidiary, Platinum
Communications,  Inc., the Company offers an integrated  outsourced  solution to
better  manage  communication  networks  that  includes  order  entry,  workflow
management, provisioning, rating, billing and analysis for both large Enterprise
customers and  communication  service  providers,  currently  marketed under the
trade name AMS.

Headquartered  in Bohemia,  NY, with  offices in Dallas,  TX, and  Chicago,  IL,
Direct  Insite Corp.  employs a staff of 65. For more  information  about Direct
Insite Corp. call (631) 244-1500 or visit our web site at www.directinsite.com.


About Metropolitan Venture Partners:
Metropolitan  Venture  Partners (MetVP) is a private equity firm that invests in
high growth technology-based businesses in the U.S. and Northern Europe; backing
teams with the ambition to build enduring companies that address global markets.

Headquartered in New York City, MetVP focuses on using its extensive  network to
assist  portfolio  companies  with  transatlantic   expansion.   MetVP  has  the
institutional  backing of a global financial services firm, Man Group plc (FTSE:
EMG),  the world's  largest  hedge fund  manager  with nearly $20 billion  under
management,  and of renowned hedge fund manager  Lawrence Hite,  founder of Mint
Investment Management Company.