Pay by Touch Secures $25 Million in Financing

"Our ongoing investment in Pay By Touch supports the continued development not only of the company's signature biometric payment solution, but also of the strategic growth of Pay By Touch as an end-to-end payment processing offering," said Gary Rieschel, executive managing director of Mobius Venture Capital. "Given the strength of the management team and the company's innovative, patented product, we expect Pay By Touch to solidify and extend its leadership position in this market."

"Pay By Touch has rapidly surpassed noteworthy competition in terms of product sophistication, strategic payment solutions and corporate credibility and awareness," said Thomas Woodhouse, Trust Administrator for the Gordon P. Getty Family Trust. "As a new investor, the opportunity to participate in Pay By Touch's market infiltration was extremely attractive, and we fully expect that Pay By Touch will shortly become the industry-leading market force."

"This infusion of capital comes at a strategic point for Pay By Touch, as we have established significant presence in the payment processing arena, and are poised to aggressively roll out new national customers," said Craig Ramsey, Pay By Touch CEO. "As biometrics gain credence among merchants and consumers as a valuable and secure payment method, we are well-positioned to capitalize on anticipated world-wide market growth."