News from the Wire

Pay By Touch Raises More Than $60 Million in New Financing

Thursday, January 26, 2006 — 14:37:46 (EST)

SAN FRANCISCO – (January 26, 2006) —Pay By Touch, the leading provider of biometric authentication, loyalty, membership and payment solutions, today announced it has closed more than $60 million in new financing through its sale of Series C Preferred Shares. The company continues to prove its business model to the financial community, raising more than $190 million during the past three months. %%N %%NParticipants in the financing include hedge funds Plainfield Asset Management and Scout Capital, plus private investors such as Quince Associates and Global Trust Partners, among others. As part of the financing, the company’s prior round of Convertible Promissory Notes was converted to the new Series C Preferred Shares. %%N %%N“The $60 million in new investment is particularly motivating because it includes such a high level of repeat investment,” said John Rogers, founder, chairman, and CEO of Pay By Touch, noting that several previous shareholders increased their holdings in the company. “Pay By Touch continues to pursue an innovative capital structure, which has appealed to hedge funds and high net worth individuals. This new capital inflow is fueling our explosive growth in the biometric payment, loyalty, and processing sectors.” %%N%%NPay By Touch has been active in using its previous round of financing to spur significant expansion. Following the company’s September round of financing, which raised a cumulative total of $130 million, Pay By Touch completed the acquisitions of CardSystems Solutions, Inc., BioPay, LLC, Capture Resource, 7th Street Software, and Convena, LLC. %%N %%NThe current funding allows Pay By Touch to continue to grow its suite of patented, secure biometric products and services while pursuing additional complementary acquisitions to accelerate growth into markets such as health care, Internet, petroleum, convenience stores, and quick service restaurants. %%N %%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

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Source: Company press release.