News

Pay By Touch expected to acquire ATM Direct

November 30, 2004

SAN FRANCISCO - Pay By Touch announced that it has signed agreements to acquire ATM Direct, provider of an all-software solution that brings PIN debit to the Internet, according to a news release. The forthcoming acquisition is expected to round out the Pay By Touch offering, which already includes payment processing services from iPAY and biometric payment authentication services from Pay By Touch.

"ATM Direct will allow Pay By Touch to facilitate PIN debit purchases online," said John Rogers, president and chief executive officer of Pay By Touch, in the release. "This new addition to the Pay By Touch family gives us the ability to provide a one-stop-shop for an end-to-end payment processing solution."

ATM Direct has a patent-pending software-only solution that allows for secure entry of any ATM or check card PIN number for purchases made over the Internet. That new solution would allow consumers to securely use their PIN numbers when making online purchases -  allowing real-time payments just like cash. Working with major credit card providers worldwide, ATM Direct will be able to authenticate more than one billion ATM cardholders and enable them to securely pay with electronic cash on the Internet, the release noted.