News from the Wire

Co-op Customers Give Pay By Touch System the Thumbs Up

Friday, June 02, 2006 — 11:58:02 (EDT)

June 2, 2006--A survey by the UK's Co-operative Supermarket has found that the majority of shoppers feel that Pay By Touch's fingerprint authentication technology - which is currently being trialled by the retailer - is more secure and convenient than the chip and PIN system. %%N%%NThe Midcounties Co-operative supermarket in Oxford launched a trial of the Pay By Touch system in March this year. %%N%%NThe technology is being used as an alternative to card and cash payments at the checkout. The system scans customer fingerprints at the point-of-sale and links the image with an electronic wallet which holds financial and loyalty programme data, eliminating the need to carry cards, cash or a cheque book. %%N%%NA survey of 1000 shoppers found that 76% feel Pay by Touch biometric system is more secure than chip and PIN, while 85% said the technology was more convenient. %%N%%NOver 75% of shoppers questioned said they would like to see the service available at other local retailers. %%N%%NThe customer survey also found that the average Pay By Touch payment is almost 20% faster than a credit or debit card. %%N%%NCommenting on te research, Tom Fischer, vice president EMEA, Pay By Touch, says: "It is clear that the security, speed and convenience offered by Pay By Touch is extremely appealing to consumers and we are very pleased with the enthusiastic adoption of the service." %%N%%NIn a related development, Pay by Touch and the Oxford-based regional Society has been shortlisted in the Grocer Gold Awards ‘Best Business Initiative’ category for its Pay By Touch checkouts, launched in March at three Oxfordshire stores.%%N%%NThis cutting edge technology is also in the final of the European Retail Solutions (ERS) Awards in the ‘EPoS Initiative of the Year’ category, which the Society won in 2003 for the introduction of self-scanning checkouts.%%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.