EXHIBIT 10.26



                               ADVISORY AGREEMENT

         Agreement made and entered into as of the 25th day of January, 2000, by
and between IFS INTERNATIONAL,  INC., a corporation  organized under the laws of
the State of Delaware with offices at  Rensselaer  Technology  Park,  300 Jordan
Road,  Troy, NY 12180 (the "Company"),  and COMMONWEALTH  ASSOCIATES L.P., a New
York limited  partnership having offices at 830 Third Avenue, New York, New York
10022 (the "Advisor").

                              W I T N E S S E T H :
                               - - - - - - - - - -

         WHEREAS,  the  Company  desires to retain the  Advisor  and the Advisor
desires to be retained by the Company,  all pursuant to the terms and conditions
hereinafter set forth;

         NOW,  THEREFORE,  in  consideration  of the  foregoing  and the  mutual
promises and covenants herein contained, it is agreed as follows:

          1.  Retention.  The  Company  hereby  retains  the  Advisor to perform
     certain strategic  advisory services related to corporate finance and other
     financial  service matters,  and the Advisor hereby accepts such retention.
     In this regard,  Advisor  shall devote such  business time and attention to
     matters  as it  deems  necessary,  and  the  performance  of the  Advisor's
     services  hereunder  shall  be  conditioned  upon the  availability  of its
     employees at any particular time.

          2. Term. The Advisor's  retention  hereunder  shall be for a term of 4
     months  commencing on the date first above written (the "Term"),  renewable
     at the mutual discretion of the Company and the Advisor.

          3.       Compensation.
                  ------------

               (a) As  compensation  for the services to be rendered  hereunder,
          the Advisor  shall receive a fee of $10,000 upon the execution of this
          Agreement,  as an advance against the expenses as described in section
          3 (b), and an additional monthly retainer fee of $7,500 payable at the
          beginning of each month following the execution of this Agreement.

               (b) The Company  shall pay such  reasonable  expenses as shall be
          incurred by the  officers and  employees of the Advisor in  connection
          with the  discharge  of its  duties  hereunder,  including  travel and
          entertainment,  but not including  expenses  relating to the Advisor's
          office operations, not to exceed $35,000, unless formerly agreed to by
          the Company;  such payment to be made upon presentation by the Advisor
          of the details of, and vouchers for, such expenses.

               (c) The Advisor  shall  receive  seven-year  warrants to purchase
          850,000  shares of the  Company's  Common Stock  (250,000 at $2.00 per
          share, 350,000 at $2.50 per share and 250,000 at $3.50 per share) upon
          signing  of this  Agreement,  based  on a  current  capitalization  of
          approximately  9,433,412 common shares fully diluted outstanding.  The
          warrants shall be issued in the names and  denominations  requested by
          the Advisor.

          4. Future Transactions. The Company agrees that the Advisor may act as
     a finder or financial consultant for the Company. The Company hereby agrees
     that in the event that the Advisor, or a disclosed agent, representative or
     other  designee of the  Advisor,  shall either  identify or  introduce  any
     person or entity to the Company  which  consummates  a Covered  Transaction
     with the Company or the Advisor assists the Company in evaluating a Covered
     Transaction,  then the Company  shall pay to the Advisor a fee of 5% of the
     Total  Consideration  in a transaction  described in sections (i) and (iii)
     below,  and  10%  of the  Total  Consideration  paid  in a  transaction  as
     described  in section  (ii) below,  plus  warrants  to purchase  20% of any
     securities  issued in such  transaction at the same price and terms of such
     transaction.   A  Covered  Transaction  shall  include:  (i)  any  sale  or
     acquisition of more than 20% of the assets of any company; (ii) any sale of
     debt or  equity  securities  of the  Company  or  other  corporate  finance
     transaction;  and  (iii)  any  merger,  joint  venture  or  other  business
     combination.  Provided  however,  if such Covered  Transaction  is with Key
     Corporation,  Sykes Enterprises,  ACI/TSAI, Synaps or Euronet/Arksys,  then
     the  Advisor  shall be  entitled  to receive a fee equal to 2% of the Total
     Consideration.

     For purposes of this Agreement,  "Total Consideration" shall mean the total
     value of all cash,  securities,  or other property paid at the closing of a
     Covered  Transaction (or to be paid in the future) either to the Company or
     its  shareholders  or by the Company and its  shareholders  with respect to
     such Covered Transaction, including, without limitation, consideration paid
     in respect  of (i) the assets of the  acquired  company,  (ii) the  capital
     stock of the acquired company (and any securities convertible into options,
     warrants  or other  rights to  acquire  such  capital  stock) and (iii) the
     assumption,  directly or indirectly (by operation of law or otherwise),  of
     any  long-term   liabilities  of  the  acquired  company  or  repayment  of
     indebtedness,  including without  limitation,  indebtedness  secured by the
     assets of the  acquired  company.  In the event a  Covered  Transaction  is
     consummated  in  one or  more  steps,  including  without  limitation,  any
     additional  consideration  paid or to be paid in any subsequent step as set
     forth  above,  such  additional  consideration  shall  be  included  in the
     definition of "Total Consideration".

          5. Liability and Indemnification.
             -----------------------------

               (a) The Advisor  shall not be subject to liability to the Company
          or to any  officer,  director,  employee,  shareholder,  affiliate  or
          creditor of the Company by virtue of any act or omission in the course
          of or connected  with the rendering or providing of advisory  services
          hereunder,  except for acts of willful misconduct,  bad faith or gross
          negligence by the Advisor.

               (b) Subject to the provisions of Section 3(b) of this  Agreement,
          the Company  hereby agrees to defend,  indemnify and hold harmless the
          Advisor from and against any and all costs,  expenses, and liabilities
          (including  reasonable attorneys' fees) arising from services rendered
          by the  Advisor  pursuant  to or in  connection  with this  Agreement,
          except for acts of willful  misconduct,  bad faith or gross negligence
          by the Advisor.

          6. Termination.  The Company may not terminate this Agreement before 4
     months after the execution of this Agreement.  Thereafter,  the Company may
     terminate  this  Agreement  upon  three days  prior  written  notice to the
     Advisor; provided, however, that notwithstanding any such termination,  the
     Advisor  will be entitled  to its full fee under  Section 3 and 4 hereof in
     the event that at any time prior to the  expiration of 18 months after such
     termination,  a Covered  Transaction is  consummated  with any party either
     identified  by the Advisor or  introduced  to the Company by the Advisor or
     who  engaged in any  discussions  with the  Advisor or who the  Advisor has
     assisted the Company in evaluating during the term of this Agreement.

          7. Notices. Any notices hereunder shall be sent to the Company and the
     Advisor at their respective  addresses above set forth. Any notice shall be
     given by registered or certified mail, postage prepaid, and shall be deemed
     to have been given when  deposited in the United States mail. Any party may
     designate  any other  address  to which  notice  shall be given,  by giving
     written  notice to the other of such change of address in the manner herein
     provided.

          8.  Governing  Law.  This  Agreement has been made in the State of New
     York and  shall be  construed  and  governed  in  accordance  with the laws
     thereof without regard to provisions regarding choice of laws.

          9. Entire  Agreement.  This  Agreement  contains the entire  agreement
     between the parties with respect to the subject matter  hereof,  may not be
     altered  or  modified,  except  in  writing  and  signed by the party to be
     charged thereby and supersedes any and all previous  agreements between the
     parties with respect to the subject matter hereof.

          10. Binding  Effect.  This Agreement shall be binding upon the parties
     hereto and their respective heirs, administrators, successors and assigns.

          11. Press  Release.  The Company  shall not issue any press release or
     other  information  which pertains to or references to the Advisor  without
     the prior written consent of the Advisor.

          IN WITNESS  WHEREOF,  the parties  hereto have executed this Agreement
     the day and year first above written.

                COMMONWEALTH ASSOCIATES L.P.

                By:   Commonwealth Associates Management Corp., its
                      general partner


                By:
                      Name:
                      Title:


                IFS International, Inc.

                By:
                      Name:
                      Title: