PHOENIX, DEMO CONFERENCE, Feb. 6 /PRNewswire/ -- Pay By Touch(TM), the
leading provider of biometric authentication, loyalty, membership and payment
solutions, today announced the launch of Pay By Touch Online, a new payment
and identification service that gives consumers a fast, easy and secure way to
identify themselves and make purchases on the Internet. Pay By Touch Online,
which debuted today at DEMO 2006, is the only solution that increases security
and convenience at the same time. The new service is based on Pay By Touch's
patented biometric technology.
(Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060206/SFM095 )
"The incessant news of data thefts, spyware and other information security
threats undermine online trust, leaving too many people rightfully wary about
the safety of their personal information," said Chris Shipley, executive
producer of DEMO 2006. "By offering consumers the security and convenience of
finger scan authentication on laptops and PCs, Pay By Touch Online will
rebuild consumers' confidence in the safety of online transactions and
accelerate e-business overall."
"As crimeware is becoming more pervasive, consumer protection must take
advantage of innovative technologies to maintain security online without
taking away convenience," said Jon Siegal, executive vice president of Pay By
Touch Online. "Pay By Touch Online uses innovative technologies such as
finger identification, encryption and secure data centers to provide the
necessary multiple layers of authentication and security that haven't existed
until now in one service -- making it the safest and most convenient way to
log-in and pay."
Pay By Touch Online gives consumers three distinct services: Express
Sign-In, Multi-factor Authentication and Express Checkout.
Express Sign-In allows consumers to quickly and securely log onto Web
sites they commonly use with a fast and simple one-touch process. The consumer
simply slides a finger across the scanner on his/her computer to login. If a
positive identification is made, the Web site instantly signs the consumer in
without requiring him/her to remember, type and transmit the username and
password -- eliminating a major source of consumer frustration. Because the
username and password are not transmitted from the consumer's computer, they
are not at risk for theft by crimeware. The customer experience is improved,
and retailers win from reduced fraud.
The Federal Financial Institutions Examination Council (FFIEC) has
released guidelines requiring financial institutions to augment user ID's and
passwords with multifactor authentication to improve Web site security by the
end of 2006.
Pay By Touch Online allows companies to implement these guidelines by
adding fast and secure finger scanning to current password systems. Pay By
Touch Online adds all three factors of authentication: "something the user
has" -- the unique scanner, "something the user knows" -- a password, and
"something the user is" -- the finger image.
Express Checkout allows consumers to quickly and securely pay for
purchases on Web sites through a fast and simple one-touch process.
As with Express Sign-in, the consumer slides a finger across the scanner
on his/her computer when ready to checkout online. If a positive
identification is made, the system accesses the shopper's Pay By Touch wallet,
which contains existing payment information (i.e. credit cards, signature
debit cards, and eChecks -- Pay By Touch's electronic check product), shipping
information and frequent shopper account information. Once a payment method
is chosen, Pay By Touch and the online store securely complete the transaction
ensuring that no sensitive financial information is transmitted from the
This payment system diminishes consumers' fears and increases customer
satisfaction by speeding up the checkout process and not requiring user IDs,
passwords, shipping addresses, or sensitive personal and financial information
to be entered.
To ensure that Pay By Touch's high security standards are met, all sensors
used -- whether built into computers or inserted via a USB port -- must be
certified. During 2006, Pay By Touch expects to certify millions of built-in
and stand-alone sensors -- many of which will already be in consumers' hands
or in manufactures' product plans.
Pay By Touch complies with the highest financial industry security
standards for storage and transmission of data. Pay By Touch selected IBM to
host its secure data centers and protect consumers' identities because of its
proven expertise and commitment to security.
Lower Merchant Costs
Pay By Touch lowers merchant costs by allowing merchants to encourage
shoppers to choose lower-cost forms of payments, such as ACH (called eCheck).
Pay By Touch Online has the only biometrically-enabled ACH platform designed
for Internet use.
Pay By Touch is in negotiations with several Internet retailers and
financial institutions across the country. The company plans to begin
deployment of Pay By Touch Online in the Spring of 2006.
Pay By Touch in Retail
Pay By Touch's patented biometric authentication platform is already used
by more than 2.3 million enrolled members, with deployments at more than 2,000
established retail locations. In addition, Pay By Touch has existing
relationships with 10,000 Internet retailers who already process transactions
through Pay By Touch's payment processing business unit, Pay By Touch Payment
The annual DEMO conferences focus on emerging technologies and new
products, which are hand-selected from across the spectrum of the technology
marketplace. The DEMO conferences have earned their reputation for
consistently identifying tomorrow's cutting-edge technologies, and have served
as launch pad events for companies such as Palm, E*Trade, Handspring and U.S.
Robotics, helping them secure venture funding, establish critical business
relationships and influence early adopters. Each DEMO conference features
approximately 70 new companies, products and technologies. For more
information on the DEMO conferences, visit www.demo.com.
About Pay By Touch
Pay By Touch is the global leader of biometric authentication,
personalized marketing, and payment solutions. The company's patented
biometric products and services enable shoppers to conveniently and securely
access personal accounts using a finger scan to identify themselves, make
purchases, cash checks, and earn rewards. Pay By Touch also provides robust
payment processing solutions for ACH, card-present and card-not-present debit
and credit transactions. To date, Pay By Touch services over 154,000 retail
clients, manages personalized rewards programs for more than 130 million
opt-in consumers, and has more than 2.3 million shoppers using biometric
authentication products and services at 2,000+ locations coast to coast.
Founded in 2002, Pay By Touch is a privately held company headquartered in San
Francisco that employs more than 500 professionals and holds more than two
dozen U.S.-issued patents. For additional company information, visit
SOURCE Pay By Touch