Source: Pay By Touch
Pay By Touch, the leading provider of biometric authentication, personalized rewards and payment solutions, today announced that it has closed an asset purchase agreement to acquire nearly 1,000 merchant accounts from the merchant portfolio held by Camelot Systems, Inc., dba Paynet Transaction Services, a leading Independent Sales Organization (ISO) based in Concord, Calif.
The Pay By Touch purchase of Paynet's merchant portfolio extends its market reach to approximately 1,000 new merchants, ranging from restaurants and apparel shops to auto body shops. Included in this diverse portfolio of companies are more than 50 NCAA sporting venues, the Dave Matthews Band and the Arcese, Furst and Associates (AFA) client roster, including David Yurman, Polo Warehouse, and Sean John Outlets.
Paynet's merchants are ideal candidates to adopt Pay By Touch's secure and cost effective biometric payment and personalized rewards solutions which give small to mid-sized businesses a clear competitive advantage.
"Acquiring Paynet's portfolio will extend our payment services to many of the top tier celebrity and specialty merchants consumers love," said John Rogers, founder, chairman, and CEO of Pay By Touch. "We look forward to providing these merchants with access to the entire suite of Pay By Touch products, which are typically available only to larger retailers."