News from the Wire

Pay By Touch to Acquire CardSystems Solutions, A Leading Provider of Integrated Payment Solutions

Monday, October 17, 2005 — 13:50:02 (EDT)

San Francisco, CA - October 15, 2005 – Pay By TouchTM, the leading provider of biometric authentication, payment, loyalty and membership solutions, announced today it has agreed to acquire substantially all of the assets of CardSystems Solutions, Inc., a merchant payment processing provider with approximately 120,000 merchants. The terms of the deal have not been disclosed. %%N%%N"There are tremendous synergies between CardSystems and Pay By Touch," said John Rogers, founder, chairman and CEO of Pay By Touch. "We are eager to leverage the existing sales and marketing channels that have produced exceptional growth for CardSystems over the past several years. This will be an excellent addition to our existing Pay By Touch merchant services processing business. Additionally, Pay By Touch will look to cross-sell biometric technology into CardSystems' existing merchant base." %%N%%N"The acquisition of CardSystems by Pay By Touch allows us to continue to provide a comprehensive payment processing solution to our Independent Sales Organizations (ISO's), associations and retail merchants," said Bill Reeves, Senior Vice President of CardSystems. %%NCardSystems has been provided an extension of its processing deadline from October 31, 2005 to January 31, 2006 by Visa, for the purpose of facilitating the planned acquisition of CardSystems' assets by Pay By Touch.%%N%%NAbout Pay By Touch Solutions%%NPay By Touch Solutions' patented biometric payment products are free to members and enable them 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. Members register once, and then can securely pay with a finger scan anywhere Pay By Touch is installed. The privately-held company offers retailers a complete payment solution, from front-end biometric authentication, age verification, and check cashing to payment processing merchant services for ACH (electronic check), debit and credit card transactions. Pay By Touch Solutions' biometric payment products enjoy the unique protection of more than two-dozen US-issued patents. For additional information, visit www.paybytouch.com .%%N%%NAbout CardSystems Solutions%%NCardSystems Solutions Inc. is a provider of integrated payment solutions to associations, financial institutions, Independent Sales Organizations (ISO) and retail merchants. CardSystems products include traditional terminals, integrated applications and e-payment solutions. The company processes payment transactions for more than 120,000 merchant locations. For more information on CardSystems, visit www.cardsystems.com .%%N%%NSource: Company Press Release

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Source: Company press release.