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Pay By Touch Acquires New Patent Portfolio

Monday, January 31, 2005 — 13:41:36 (EST)

SAN FRANCISCO– (January 27, 2005) — Pay By Touch today announced that it has successfully acquired a new patent portfolio including U.S.-issued patents for biometric authentication for check-cashing services. The newly acquired portfolio adds to the company’s more than two-dozen issued U.S.%%Npatents.%%N%%N“Our acquisition of the issued patent covering biometric authentication of check-cashing and our recently announced alliance with global transaction processing leader Certegy brings a compelling proposition to our check-cashing authentication services,” said John Rogers, founder, chairman and CEO of Pay By Touch.%%N%%NAnother company, BioPay, which had unsuccessfully sought to purchase the newly acquired patent portfolio, recently filed suit in the federal district court in Delaware seeking a declaration that its business does not infringe Pay By Touch’s newly acquired patent. Biometric authentication of check-cashing services is a self-described key area of business for BioPay.%%N%%NBioPay has also asked the court to declare that it is not infringing another of Pay By Touch’s more than two-dozen U.S.- issued patents. BioPay filed its lawsuit when Pay By Touch successfully acquired the new patent portfolio.%%N%%N“This acquisition is indicative of our market momentum as retailers and shoppers continue to sign up for Pay By Touch. We will continue to vigorously defend our patents,” Rogers said.%%N%%NAbout Pay By Touch%%NPay By Touch is a free consumer payment service that allows shoppers to pay for purchases and cash checks using a finger scan linked to their financial accounts and loyalty programs. With Pay By Touch, the checkout process is faster, more convenient, and more secure than other payment methods. It eliminates the need to present checks and IDs, credit, debit, membership, or loyalty cards at the point of sale. Pay By Touch offers retailers a complete payment solution from front-end biometric authentication to back-end ACH and card payment processing. For additional information, visit www.paybytouch.com.%%N%%NSource: Company Press Release

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Source: Company press release. end of article

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