News from the Wire

Pay By Touch Completes Acquisition of BioPay

Wednesday, January 18, 2006 — 13:53:49 (EST)

SAN FRANCISCO, January 16, 2006 — Pay By TouchT, the leading provider of biometric authentication, loyalty, membership, and payment solutions, today announced it has completed the acquisition of BioPay LLC for $82 million in stock and cash. BioPay is a biometric services provider with more than two million enrolled consumers that has authorized more than $7 billion in biometrically-authenticated transactions. The purchase fuses each company's unique strengths to deliver new capabilities and solutions to retailers and consumers.%%N%%NPay By Touch has signed agreements to implement biometric payment systems in two of the top five U.S. grocers, supplies loyalty solutions to 55 of the top 100 national retailers, and provides payment solutions to more than 125,000 merchants. BioPay holds the leading position in biometrically authenticated check cashing, with 1,600 retailers across the country. Both companies' clients and consumers will now have access to the combined suite of biometric product offerings.%%N%%N"Pay By Touch and BioPay together bring buyers and sellers one step closer to making biometric transactions ubiquitous around the world," said John Rogers, founder, chairman, and CEO of Pay By Touch. "The addition of BioPay's technology and customers further strengthens Pay By Touch's comprehensive suite of innovative solutions for retailers of all sizes - and virtually any business conducting financial transactions."%%N%%NUnder the terms of the deal, Pay by Touch will acquire and assume responsibility for all of the BioPay, LLC assets, including its patent portfolio, as well as its retail customers and enrolled members.%%N%%NThe acquisition comes on the heels of a period of explosive fundraising for Pay By Touch, which closed on $130 million in financing in September of 2005.%%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 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 U.S.-issued patents. For additional information, visit www.paybytouch.com.%%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.