News from the Wire

Pay By Touch Strengthens Loyalty Offering with Acquisition of two Leading Loyalty Technologies

Friday, December 16, 2005 — 14:19:23 (EST)

SAN FRANCISCO – December 15, 2005 – Pay By Touch, the global leader of biometric authentication, loyalty, membership, and payment solutions, today announced it has acquired the assets and intellectual property of 7th Street Software, Inc. and Convena, LLC, two loyalty technology providers that will significantly bolster Pay By Touch’s loyalty offerings. %%N%%N7th Street Software, Inc. is the developer of LoyaltySuite, a sophisticated, patent-pending technology that helps retailers automatically give shoppers relevant, personalized offers on the products they purchase most. The Convena, LLC assets will add another layer to Pay By Touch’s loyalty offerings. %%N %%N“The acquisition of these customized loyalty technologies enhances Pay By Touch’s promise of convenience while also shifting from mass, product-based marketing to a more individualized customer approach,” said John Rogers, founder, chairman, and CEO of Pay By Touch. “These loyalty applications complement the Pay By Touch brand promise to make shopping more convenient by allowing shoppers access to customized rewards and discounts with the touch of a finger right in the store.” %%N %%NRetailers and manufacturers will also benefit from the acquisition, providing more efficient tools for managing inventory, improving marketing channels, and offering more individualized customer service. The acquisition also positions Pay By Touch to offer back-end Web-based services from 7th Street Software, Inc., which include communication-staging services that support multiple digital communication channels. %%N%%NAbout Pay By Touch %%NPay By Touch’s patented biometric payment products are free to consumers and enable 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. Shoppers 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) and debit and credit card transactions. Pay By Touch’s biometric payment products enjoy the unique protection of more than two-dozen US-issued patents. For additional information, visit www.paybytouch.com . %%N%%NSource: Company Press Release

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Source: Company press release.