San Jose, CA - May 13, 2005 - Verifone Holdings, Inc. (NYSE: PAY) announced today it has signed a joint development and marketing agreement with Pay By Touch, aimed at furthering the adoption of consumer biometric payment solutions.
Under the agreement, the companies will work together to enhance the security, encryption and compatibility of each other’s solutions. In addition, both companies will offer the Pay By Touch consumer biometric payment service as an integrated offering with Verifone’s family of payment solutions. Both companies will also collaborate on new product development, marketing, and sales of the integrated solutions.
Douglas G. Bergeron, Chairman and CEO of Verifone Holdings, Inc., said: “Verifone’s multi-application operating system provides the secure environment required to process biometric data. Enabling secure, reliable biometric payment authentication in partnership with the leading provider, Pay By Touch, further increases our value proposition at the point of sale.”
Pay By Touch, an innovator in the payments industry, provides a free service that allows consumers to pay for purchases or cash checks with just the touch of a finger. Shoppers are linked to their financial and loyalty accounts by using a simple method of finger scanning at the point of sale -- eliminating the need to carry cards, checks, or cash. To date, the Pay By Touch consumer biometric payment solution is being deployed in Piggly Wiggly Carolina Co. stores in South Carolina and Georgia, using Verifone’s and Pay By Touch’s joint systems solutions.
“Our alliance will shape the landscape for biometric payment services at the point-of-sale by more closely integrating the Pay By Touch payment service with Verifone’s industry leading payment solutions which have achieved substantial market penetration,” said John Rogers, founder, chairman and CEO of Pay By Touch. “Pay By Touch helps retailers reduce costs, eliminate fraud, and improve the customer experience. Our integrated solutions with Verifone will make it even easier for retailers to realize the benefits of our service.”
About Pay By Touch
Pay By Touch is a biometric payment service free to consumers that allow shoppers to quickly and securely pay for purchases or cash checks using a finger scan linked to their personal identification information, financial accounts, and loyalty programs. The privately-held company offers retailers a complete payment solution, from front-end biometric authentication, age verification, and check cashing to back-end payment processing for ACH, debit card, and credit card transactions. Pay By Touch has more than two-dozen U.S. issued patents covering biometric transactions. For additional information, visit www.paybytouch.com.
About Verifone Holdings, Inc.
Verifone Holdings, Inc. (“Verifone”) (NYSE: PAY), a global leader in secure electronic payment technologies, provides expertise, solutions and services for today with a migration strategy for tomorrow. Verifone delivers solutions that add value to the point of sale, resulting in improved merchant retention and the generation of new sources of revenue for its partners and customers. Verifone solutions are specifically designed to meet the needs of vertical markets including financial, retail, petroleum, government and healthcare. Verifone has shipped over eleven million electronic payment systems since inception in 1981.