News from the Wire

Pay By Touch Announces Chief Security Officer

Tuesday, April 19, 2005 — 12:56:26 (EDT)

SAN FRANCISCO, April 18 /PRNewswire/ -- Pay By Touch today announced Larry%%NHollowood as chief security officer. Hollowood will manage information%%Nsecurity and business continuity services, as well as oversee IT operations%%Nfor the biometric payments company.%%N %%N"Larry's expertise in security and technology will be incredibly valuable%%Nas Pay By Touch continues to grow," said John Rogers, founder, chairman, and%%NCEO of Pay By Touch. "His vast knowledge working with emerging technologies%%Nand managing security architecture in the banking industry is aligned with our%%Ncommitment to the highest standard for security at Pay By Touch."%%N %%NHollowood comes to Pay By Touch with more than 25 years of experience in%%Nthe technology and security industries. Prior to joining Pay By Touch,%%NHollowood worked with Bank of America for eight years in a variety of%%Nexecutive-level positions in IT operations, including senior vice president of%%NCorporate Information Security and Architecture and Emerging Technologies.%%NWhile at Bank of America, Hollowood was also active in several external%%Norganizations that develop security and privacy standards, including the%%NLiberty Alliance, OASIS and the OMG.%%N %%NBefore working with Bank of America, Hollowood managed information%%Nsecurity at Mellon Bank, served in senior technical positions at Westinghouse%%NElectric, and worked on a project for the U.S. Navy Atlantic Command Center in%%NNorfolk, Va. Hollowood earned a B.S. Summa Cum Laude in Mathematics from%%NTemple University.%%N %%NHollowood's role as chief security officer at Pay By Touch covers iPAY, a%%NPay By Touch suite of payment processing products that completes its offering%%Nto retailers for end-to-end payment solutions. Hollowood recently led iPAY%%Nthrough Visa CISP and SAS70 audits, demonstrating iPAY's commitment to%%Nsecurity and information availability services. In addition, Hollowood will%%Nwork closely with Pay By Touch senior management to ensure the success of Pay%%NBy Touch deployments throughout the country.%%N %%N"We're seeing some really exciting consumer payment trends," Hollowood%%Nsaid. "With Pay By Touch, transactions are more secure since no one can see a%%Nshopper's account numbers at the point of sale, and each user's Pay By Touch%%Nwallet is encrypted and stored at secure IBM data centers. With these%%Nmeasures in place, we are making sure that transactions with Pay By Touch are%%Nsecure, and that risk of fraud is reduced for consumers and merchants alike."%%N %%NTo date, the Pay By Touch consumer biometric payment solution is being%%Ndeployed in Piggly Wiggly Carolina Co. stores throughout The Carolinas and%%NGeorgia as well as in other retailers throughout North America. Pay By Touch%%Nplans to launch in major national retail chains later this year.%%N%%NAbout Pay By Touch%%NPay By Touch is a biometric payment service free to consumers that allow%%Nshoppers to quickly and securely pay for purchases or cash checks using a%%Nfinger scan linked to their personal identification information, financial%%Naccounts, and loyalty programs. The privately-held company offers retailers a%%Ncomplete payment solution, from front-end biometric authentication, age%%Nverification, and check cashing to back-end payment processing for ACH, debit%%Ncard, and credit card transactions. Pay By Touch has more than two-dozen%%NU.S. issued patents covering token-less biometric transactions. For%%Nadditional information, visit www.paybytouch.com.%%N%%NSource: Company Press Release

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Source: Company press release.