SAN FRANCISCO – Solidus Networks, which is undergoing bankruptcy liquidation, yesterday said it is closing down its biometric payments network operating under the Pay By Touch name.
The payments network, which allows hundreds of thousands of shoppers to access their credit union and bank accounts at the touch of a finger, was closed at midnight last night.
In recent weeks the financially troubled company has auctioned off several operating subsidiaries it acquired over the past four years, including its BipYa Paycheck Secure biometric check cashing outfit and its ATM Direct, a provider of PIN-based payments for the Internet.
The bankruptcy auction by privately owned Solidus is the result of a fight with its major venture backers, who forced the company into bankruptcy last fall.
