Pay By Touch Has IBM Agreement

Under the agreement, IBM and Pay By Touch will work together to offer this technology to retailers across the world. Several major retailers are expected to launch Pay By Touch pilots using IBM’s POS systems in early 2004.

Pay By Touch pilots to date have been very successful with consumers. Merchants have reported up to 75% consumer adoption among their customers. The one-time enrollment process takes less than a minute – shoppers scan their finger, enter an access code and swipe cards and accounts they want to use. The Pay By Touch finger scanning technology does not store actual fingerprints; instead it creates a set of geometric points that allows for a secure identity match at retail point of sale.