Friday, February 3, 2006

31 Patents with 70 Pending

February 03, 2006 (6:58 PM EST)

Grocery Chain Lets Shoppers Pay By Touch
Laurie Sullivan, TechWeb News

Pay By Touch said more than two million customers have enrolled in the biometrics service, and has authenticated approximately $8 billion in transactions.

The company holds 31 U.S.-issued patents for biometric transactions, including age verification, loyalty cards and check-cashing, with more than 70 patents pending.

In late January, Pay By Touch closed more than $60 million in new financing through its sale of Series C Preferred Shares. Funds secured in the past three years exceed $190 million.