On Oct. 31, 2007, four employees of Pay By Touch Inc. filed involuntary bankruptcy against the company, claiming they are owed more than $60,000 in back wages.
Then, in early November, payment industry insiders reported Pay By Touch was backing off on its innovative pay by fingerprint technology.
Its merchant card processing businesses are being considered for sale, including Pay By Touch Payment Solutions and Pay By Touch Processing, both of which are integrated with the proprietary fingerprint scanning device.
Pay By Touch's technology involves the use of a consumer's fingerprint to make purchases at the POS, instead of swiping a credit card through a reader. This payment alternative was touted as both convenient for consumers and secure for merchants because it offers unique user authentication and security.
Founded by John P. Rogers in 2002, Pay By Touch currently has more than 700 employees and has finger scan devices in 2,400 locations nationwide, such as SuperValu Inc.'s Albertsons, Chicago area grocery stores SuperValu's Cub Foods and Jewel-Osco, Piggly Wiggly Co. stores in South Carolina and Georgia, and Hy-Vee Inc. stores in the Midwest. Most recently, Pay By Touch entered the petroleum sector by launching its biometric payment system at 10 Chicago-area Shell Oil Co. gas stations.
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