Pay By Touch

Founded in 2002 in San Francisco, US, Pay By Touch offers biometric payment solutions to facilitate secure transactions. The company underwent a pivotal transformation in its business operations by focusing on biometric authentication systems.Pay By Touch specializes in biometric payment solutions that facilitate secure transactions through fingerprint recognition technology. Their core offerings include a biometric authentication system that allows users to make payments seamlessly without the need for cash or cards, thereby enhancing the customer experience in retail environments. The technology aims to address the challenges of identity theft and payment fraud while streamlining the checkout process for both consumers and businesses. Key end users include retail customers, financial institutions, and merchants who seek to improve transaction efficiency and security.The revenue model for Pay By Touch primarily revolves around partnerships with retailers and financial institutions, leveraging their biometric payment systems in exchange for transaction fees or subscription-based access to their technology. Clients implement the biometric systems, which subsequently process transactions at the point of sale, generating income for Pay By Touch each time a payment is executed. The company’s flagship product enhances security at checkout, potentially translating into increased customer loyalty and repeat business for retailers. Transaction pricing structures generally include a fee per transaction or a monthly subscription for ongoing access to the technology and support services. The company aims to expand its biometric payment solutions into new markets in Europe and Asia by the end of 2007. Additionally, Pay By Touch plans to launch new products that enhance their biometric authentication systems, although specific release dates have not been disclosed.

1. Series B

   Jul 2, 2004

   Amount

   $25M

   Investors

   Locked