Thursday, October 19, 2006

Former Verus CEO Joins Pay By Touch

Payment Industry Veteran Ron Carter Named President of Pay By Touch Payment Solutions

Executive Brings Operational Expertise in Banking and Financial Services to Biometrics Pioneer

Pay By Touch, a leader of biometric authentication, personalized rewards and payment solutions, today announced that Ron Carter, credit card industry veteran and former President and Chief Operating Officer of Verus Financial Management has joined the company as President of Pay By Touch Payment Solutions, LLC.

Carter brings more than 35 years of experience in general management and operations for the banking and financial services industries to Pay By Touch. As President of Pay By Touch Payment Solutions, he will report directly to Pay By Touch's President and Chief Operating Officer, John Morris.

In his new role, Carter will be responsible for the day to day operations of the company's payment services divisions, which serve more than 138,000 retail clients and processes more than $18 Billion annually.

"Ron Carter is a proven leader and hands-on operator who brings deep financial services and payment processing expertise to Pay By Touch," said John Morris, President and COO, Pay By Touch. "We look forward to working with Ron to make electronic transactions both more secure for consumers and more cost effective for merchants, one touch at a time."

"I am thrilled to be joining such an innovative and dynamic company with a growing reputation for service in the merchant community," said Ron Carter, President of Pay By Touch Payment Solutions. "I look forward to working with John Rogers, John Morris and Pay By Touch's world-class management team to provide merchants everywhere with more secure and convenient transaction solutions."

At Verus Financial Management, a company that provides credit card and check payment processing services to small and mid-sized merchants, Carter managed the acquisition and successful integration of six companies and oversaw day-to-day operations as President and COO.

Previously, Carter served as Executive Vice President of Vital Processing Services, where he was responsible for all lines of business, customer relations, sales, operations and information technology. He had served as president of BUYPASS Corporation, a division of Electronic Payment Services, which was acquired by Concord in 1999.

About Pay By Touch

Pay By Touch is wowing the world one touch at a time as the leader in biometric authentication, personalized marketing and payment solutions. To date, the company's patented biometric services enable 3.3 million shoppers to quickly and securely access personal accounts using a finger scan to identify themselves, make purchases, earn rewards and cash checks at 2,400 locations nationwide. It also provides robust payment processing solutions for ACH (electronic checking), card-present and card-not- present debit and credit transactions for 138,000 retail clients and manages personalized rewards programs for 130 million opt-in consumer profiles. Founded in 2002 and headquartered in San Francisco, Pay By Touch employs 700 professionals and holds 50 patents worldwide on secure, convenient and cost- effective transaction solutions.