21 February 2018
visit www.ebaday.com

Pay By Touch completes BioPay acquisition

16 January 2006  |  1450 views  |  0 Source: Pay By Touch

Pay By Touch, 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.

Pay 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.

"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."

Under 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.

The 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.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit https://www.capgemini.comvisit www.nextgenbanking.co.ukVisit www.vasco.com

Top topics

Most viewed Most shared
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
10065 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9681 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8449 views comments | 13 tweets | 12 linkedin
BBVA-backed digital banking startup targets gig economy workersBBVA-backed digital banking startup target...
7109 views comments | 8 tweets | 12 linkedin
hands typing furiouslyMaking Customer Experience Your Business
6807 views 0 | 7 tweets | 5 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job