News from the Wire

Pay By Touch Appoints Senior IBM Executive as President and Chief Operating Officer

Tuesday, May 24, 2005 — 12:27:57 (EDT)

SAN FRANCISCO, May 24 /PRNewswire/ -- Payments industry innovator Pay By Touch today announced the appointment of John Morris as president and chief operating officer, effective immediately. Morris will manage company-wide operations for Pay By Touch and will lead the company's vision to transform the way the world transacts.%%N%%NMorris joins Pay By Touch following a 23-year career with IBM, where he spent the past six years as a member of IBM's senior leadership team. He brings a wealth of sales, marketing and operations expertise in key industries that will be instrumental in building Pay By Touch's global biometric authentication, loyalty, and payments processing network.%%N%%NMost recently, Morris led the distribution sector for the Americas at IBM, where his division generated annual revenues of $5 billion. His responsibilities included operations and product development for major clients in the industry areas of retail, consumer products, travel, transportation, hospitality, and gaming markets, which are strategically significant to Pay By Touch.%%N%%NMorris has also held strategy, marketing, and product roles in IBM, including leading global sales and marketing for the IBM zSeries mainframe product line worldwide. He also ran various Asia/Pacific businesses for four years while living in Tokyo.%%N%%N"John maintains close ties with IBM and has tremendous credibility in the industry," said John Rogers, founder, chairman, and CEO of Pay By Touch. "John's relationships with major retail players across the Americas, along with a proven track record, will definitely raise the bar for Pay By Touch and give us the added advantage we need as we expand our biometric and payment processing offerings to new vertical markets."%%N%%N"I'm very excited to join the fast-paced, energetic culture at Pay By Touch, and I'm anxious to continue growing the company," Morris said. "I look forward to the coming months as we expand throughout the United States and broaden our success overseas."%%N%%NThrough an existing agreement, Pay By Touch and IBM are engaged in a joint sales and marketing partnership. Pay By Touch leverages IBM's leadership position in the retail sector, looking to IBM for assistance with store rollouts and technical expertise of store point of sale (POS) environments. The addition of John Morris allows Pay By Touch to maximize this alliance.%%N%%NAbout Pay By Touch%%N%%NPay By Touch is a 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, age verification, and check cashing to back-end payment processing for ACH, debit card, and credit card transactions. Pay By Touch has more than two-dozen U.S. issued patents covering biometric transactions. For additional information, visit www.paybytouch.com.%%N%%NA headshot of John Morris can be found in the Pay By Touch online press kit located at www.paybytouch.com/presskit .%%N%%NSource: Company Press Release

The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information: bankcardlife.com?orid=33533&opid=1 .

Source: Company press release.