News from the Wire

Pay By Touch acquires majority of Paynet merchant portfolio

Wednesday, November 15, 2006 — 12:41:05 (EST)

SAN FRANCISCO, Nov. 15 -- Pay By Touch(TM), the leading%%Nprovider of biometric authentication, personalized rewards and payment%%Nsolutions, today announced that it has closed an asset purchase agreement%%Nto acquire nearly 1,000 merchant accounts from the merchant portfolio held%%Nby Camelot Systems, Inc., dba Paynet Transaction Services, a leading%%NIndependent Sales Organization (ISO) based in Concord, Calif.%%N%%NThe Pay By Touch purchase of Paynet's merchant portfolio extends its%%Nmarket reach to approximately 1,000 new merchants, ranging from restaurants%%Nand apparel shops to auto body shops. Included in this diverse portfolio of%%Ncompanies are more than 50 NCAA sporting venues, the Dave Matthews Band and%%Nthe Arcese, Furst and Associates (AFA) client roster, including David%%NYurman, Polo Warehouse, and Sean John Outlets.%%N%%NPaynet's merchants are ideal candidates to adopt Pay By Touch's secure%%Nand cost effective biometric payment and personalized rewards solutions%%Nwhich give small to mid-sized businesses a clear competitive advantage.%%N%%N"Acquiring Paynet's portfolio will extend our payment services to many%%Nof the top tier celebrity and specialty merchants consumers love," said%%NJohn Rogers, founder, chairman, and CEO of Pay By Touch. "We look forward%%Nto providing these merchants with access to the entire suite of Pay By%%NTouch products, which are typically available only to larger retailers."%%N%%NAbout Pay By Touch%%N%%NPay By Touch ( www.paybytouch.com ) is wowing the world one%%Ntouch at a time as the global leader in biometric authentication,%%Npersonalized marketing and payment solutions. To date, patented Pay By%%NTouch(TM) biometric services enable 3.3 million shoppers to quickly and%%Nsecurely access personal accounts using a finger scan to identify%%Nthemselves, make purchases and cash checks at 2,400 locations nationwide.%%NThe company also provides robust payment processing solutions for ACH%%N(electronic checking), card-present and card-not-present debit and credit%%Ntransactions for retail clients. Founded in 2002 and headquartered in San%%NFrancisco, Pay By Touch employs 700 professionals and holds more than 50%%NU.S. patents on secure, convenient and cost-effective transaction%%Nsolutions.%%N%%NSource: Company press release

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Source: Company press release.