News from the Wire

Pay By Touch Express Checking Proves to Be Convenient Way to Enable ACH Payments

Monday, April 11, 2005 — 18:02:49 (EDT)

SAN FRANCISCO – (April 11, 2005)— During the NACHA Payments 2005 conference in San Antonio, leading consumer biometric transactions company Pay By Touch announced steady progress with merchant implementation and consumer adoption of its ACH product, Express Checking. Express Checking has rapidly gained popularity with consumers and merchants as the most secure, cost-efficient way to pay with Pay By Touch.%%N%%NExpress Checking was tested in the recently concluded pilot for Piggly Wiggly Carolina Co. grocery stores. The grocery store chain saw positive results with Pay By Touch that in January it announced the expansion of the technology to all of its stores throughout the Southeast. A Piggly Wiggly survey revealed that shoppers like Pay By Touch as an alternative because it is faster, safer, and more convenient than other payment methods. And, with a number of transactions shifting from higher cost forms of payment to Express Checking (ACH), Piggly Wiggly was able to see a positive ROI.%%N%%N“It’s the network aspect of Pay By Touch that makes it so easy for merchants to accept ACH payments,” said Eric Bachman, Chief Operating Officer for Pay By Touch. “Once a customer has included Express Checking in the Pay By Touch wallet, he or she can use it at any participating retailer, with just the touch of a finger.”%%N%%NPay By Touch users can add a variety of account information to their Pay By Touch electronic wallets, such as credit cards and loyalty cards, in addition to Express Checking (ACH). Merchants can then influence which payment method is used by establishing the order in which they are presented to the shopper, or by giving certain payment methods exclusivity in the wallet.%%N%%NIn addition to the Piggly Wiggly Carolina Co. stores throughout The Carolinas and Georgia, Pay By Touch is being deployed in a number of major retail chains throughout North America and is expected to launch in major national retail chains later this year.%%N%%NPay By Touch vice president of Risk Management & Electronic Payment, Don McNelley and Piggly Wiggly’s vice president of Information Services, Rich Farrell will be co-presenting at NACHA’s Payments 2005 conference on Monday, April 11 at 11:00 AM on the topic of ACH biometric payment in action.%%N%%NAbout Pay By Touch%%NPay By Touch is a consumer biometric payment service free to consumers that allows shoppers to quickly and securely pay for purchases or cash checks using a finger scan linked to their personal identification information, financial accounts, and loyalty programs. The privately held company offers retailers a complete payment solution, from front-end biometric authentication and age verification to back-end ACH and credit card and debit card payment processing. Pay By Touch has more than two-dozen U.S.%%Nissued patents covering token-less biometric transactions. For additional information, visit www.paybytouch.com.%%N%%NSource: Company Press Release

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Source: Company press release.