Pay By Touch Acquires Troubled CardProcessor
SAN FRANCISCO - (12/05/05) -- Pay By Touch, which providesfingerprint payment solutions, said Friday it has completed theacquisition of CardSystems Solutions, the controversialAtlanta-based cards processor which reported millions of itsconsumer accounts had been hacked earlier this year. Pay By Touch,which is installing its prototype fingerprint payment system insupermarkets across the country, said it made the deal because ofthe 120,000 merchant accounts held by CardSystems. Separately, PayBy Touch said it has also acquired Capture Resource Inc., asupplier of integrated reward programs. The deal will allow Pay ByTouch to offer customers interactive gift and reward programs,customized reporting, design, production and Web access services.The deal gives Pay By Touch access to 120 million consumer loyaltyenrollment profiles, including more than 12,000 supermarkets andretail institutions.