SAN FRANCISCO – Merrick Bank announced Friday it has acquired the operating assets of Pay By Touch Processing, as part of the liquidation of the once-prominent biometric fingerprint identification company. The data processing assets are used by merchants to facilitate the acceptance of credit and debit cards through major payment networks, including VISA and MasterCard.
Merrick bank is a wholly owned unit of CardWorks Inc.
Pay By Touch, which is being dismantled under bankruptcy, also said Sunday it sold its suite of 25 patents that enable a software-only solution for PIN based payment transactions on the Internet, to Accullink, LLC, an Atlanta based investor group that bought ATM Direct from Pay By Touch last month. The company has established operations in a data center, launched an Internet PIN Debit payments platform, secured significant merchants for pilots, and received commitments from several EFT networks for directly processing merchant transactions.
In recent months, Pay By Touch and its parent Solidus Inc. have sold several operating subsidiaries it acquired over the past four years, including its BioPay Paycheck Secure biometric check cashing outfit, and ATM Direct.
Last month Pay By Touch shut down its core fingerprint payment system which allowed shoppers to tap into their credit union or bank accounts with a touch of their finger.
