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                                                                    EXHIBIT 31.2


                                  CERTIFICATION
                             AS ADOPTED PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002



I, John H. Lowry, certify that:

     1. I have reviewed this annual report on Form 10-K of Catuity Inc;

     2. Based on my knowledge, this annual report does not contain any untrue
        statement of a material fact or omit to state a material fact
        necessary to make the statements made, in light of the circumstances
        under which such statements were made, not misleading with respect to
        the period covered by this annual report;

     3. Based on my knowledge, the financial statements, and other financial
        information included in this annual report, fairly present in all
        material respects the financial condition, results of operations and
        cash flows of the registrant as of, and for, the periods presented in
        this annual report;

     4. The registrant's other certifying officers and I are responsible for
        establishing and maintaining disclosure controls and procedures (as
        defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the
        registrant and we have:

        a) Designed such disclosure controls and procedures, or caused such
           disclosure controls and procedures to be designed under our
           supervision, to ensure that material information relating to the
           registrant, including its consolidated subsidiaries, is made
           known to us by others within those entities, particularly during
           the period in which this annual report is being prepared;

        b) Evaluated the effectiveness of the registrant's disclosure controls
           and procedures and presented in this report our conclusions about
           the effectiveness of the disclosure controls and procedures, as
           of the end of the period covered by this annual report based on
           such evaluation; and

        c) Disclosed in this report any change in the registrant's internal
           control over financial reporting that occurred during the
           registrant's most recent fiscal quarter (the registrant's fourth
           quarter in the case of an annual report) that has materially
           affected, or is reasonably likely to materially affect, the
           registrant's internal control over financial reporting; and

     5. The registrant's other certifying officers and I have disclosed, based
        on our most recent evaluation of internal control over financial
        reporting, to the registrant's auditors and the audit committee
        of the registrant's board of directors (or persons performing the
        equivalent function):

        a) All significant deficiencies or material weaknesses in the design
           or operation of internal control over financial reporting which
           are reasonably likely to adversely affect the registrant's
           ability to record, process, summarize and report financial
           information; and

        b) Any fraud, whether or not material, that involves management or
           other employees who have a significant role in the registrant's
           internal control over financial reporting.


                                  By:       /s/ John H. Lowry
                                            ----------------------
                                           John H. Lowry
                                           Chief Financial Officer

Date:  March 30, 2005