|
Convenience and Security of Finger Identification Comes to Internet Consumers Through New Pay By Touch Online Service
7 February 2006 Pay By Touch(TM), the leading provider of biometric authentication, loyalty, membership and payment solutions, today announced the launch of Pay By Touch Online, a new payment and identification service that gives consumers a fast, easy and secure way to identify themselves and make purchases on the Internet. Pay By Touch Online, which debuted today at DEMO 2006, is the only solution that increases security and convenience at the same time. The new service is based on Pay By Touch's patented biometric technology.
(Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20060206/SFM095 )
"The incessant news of data thefts, spyware and other information security threats undermine online trust, leaving too many people rightfully wary about the safety of their personal information," said Chris Shipley, executive producer of DEMO 2006. "By offering consumers the security and convenience of finger scan authentication on laptops and PCs, Pay By Touch Online will rebuild consumers' confidence in the safety of online transactions and accelerate e-business overall."
"As crimeware is becoming more pervasive, consumer protection must take advantage of innovative technologies to maintain security online without taking away convenience," said Jon Siegal, executive vice president of Pay By Touch Online. "Pay By Touch Online uses innovative technologies such as finger identification, encryption and secure data centers to provide the necessary multiple layers of authentication and security that haven't existed until now in one service -- making it the safest and most convenient way to log-in and pay."
Pay By Touch Online gives consumers three distinct services: Express Sign-In, Multi-factor Authentication and Express Checkout.
Express Sign-In
Express Sign-In allows consumers to quickly and securely log onto Web sites they commonly use with a fast and simple one-touch process. The consumer simply slides a finger across the scanner on his/her computer to login. If a positive identification is made, the Web site instantly signs the consumer in without requiring him/her to remember, type and transmit the username and password -- eliminating a major source of consumer frustration. Because the username and password are not transmitted from the consumer's computer, they are not at risk for theft by crimeware. The customer experience is improved, and retailers win from reduced fraud.
Multi-factor Authentication
The Federal Financial Institutions Examination Council (FFIEC) has released guidelines requiring financial institutions to augment user ID's and passwords with multifactor authentication to improve Web site security by the end of 2006.
Pay By Touch Online allows companies to implement these guidelines by adding fast and secure finger scanning to current password systems. Pay By Touch Online adds all three factors of authentication: "something the user has" -- the unique scanner, "something the user knows" -- a password, and "something the user is" -- the finger image.
Express Checkout
Express Checkout allows consumers to quickly and securely pay for purchases on Web sites through a fast and simple one-touch process.
As with Express Sign-in, the consumer slides a finger across the scanner on his/her computer when ready to checkout online. If a positive identification is made, the system accesses the shopper's Pay By Touch wallet, which contains existing payment information (i.e. credit cards, signature debit cards, and eChecks -- Pay By Touch's electronic check product), shipping information and frequent shopper account information. Once a payment method is chosen, Pay By Touch and the online store securely complete the transaction ensuring that no sensitive financial information is transmitted from the consumer's computer.
This payment system diminishes consumers' fears and increases customer satisfaction by speeding up the checkout process and not requiring user IDs, passwords, shipping addresses, or sensitive personal and financial information to be entered.
Finger Sensors
To ensure that Pay By Touch's high security standards are met, all sensors used -- whether built into computers or inserted via a USB port -- must be certified. During 2006, Pay By Touch expects to certify millions of built-in and stand-alone sensors -- many of which will already be in consumers' hands or in manufactures' product plans.
Transaction Security
Pay By Touch complies with the highest financial industry security standards for storage and transmission of data. Pay By Touch selected IBM to host its secure data centers and protect consumers' identities because of its proven expertise and commitment to security.
Lower Merchant Costs
Pay By Touch lowers merchant costs by allowing merchants to encourage shoppers to choose lower-cost forms of payments, such as ACH (called eCheck). Pay By Touch Online has the only biometrically-enabled ACH platform designed for Internet use.
Deployment
Pay By Touch is in negotiations with several Internet retailers and financial institutions across the country. The company plans to begin deployment of Pay By Touch Online in the Spring of 2006.
Pay By Touch in Retail
Pay By Touch's patented biometric authentication platform is already used by more than 2.3 million enrolled members, with deployments at more than 2,000 established retail locations. In addition, Pay By Touch has existing relationships with 10,000 Internet retailers who already process transactions through Pay By Touch's payment processing business unit, Pay By Touch Payment Solutions.
About DEMO
The annual DEMO conferences focus on emerging technologies and new products, which are hand-selected from across the spectrum of the technology marketplace. The DEMO conferences have earned their reputation for consistently identifying tomorrow's cutting-edge technologies, and have served as launch pad events for companies such as Palm, E*Trade, Handspring and U.S. Robotics, helping them secure venture funding, establish critical business relationships and influence early adopters. Each DEMO conference features approximately 70 new companies, products and technologies. For more information on the DEMO conferences, visit http://www.demo.com.
About Pay By Touch
Pay By Touch is the global leader of biometric authentication, personalized marketing, and payment solutions. The company's patented biometric products and services enable shoppers to conveniently and securely access personal accounts using a finger scan to identify themselves, make purchases, cash checks, and earn rewards. Pay By Touch also provides robust payment processing solutions for ACH, card-present and card-not-present debit and credit transactions. To date, Pay By Touch services over 154,000 retail clients, manages personalized rewards programs for more than 130 million opt-in consumers, and has more than 2.3 million shoppers using biometric authentication products and services at 2,000+ locations coast to coast. Founded in 2002, Pay By Touch is a privately held company headquartered in San Francisco that employs more than 500 professionals and holds more than two dozen U.S.-issued patents. For additional company information, visit http://www.paybytouch.com.
Source: prnewswire
All trademarks and copyrighted information contained herein are the property of their respective owners.
Related Internet Articles
|
 | Unlimited Domain Hosting Only $10 a Month
Founded in 2002, Hostgator.com, LLC has quickly grown from its humble beginnings in Boca Raton, Florida into one of the most respected names in the web hosting industry. Renowned for exceptional customer support and unrivaled in terms of customer satisfaction, Host Gator is poised to take the lead in the highly competitive and densely populated world of web hosting providers.
For more information!
Click Here |
|
|
 | Got Root?! 1&1 Dedicated Servers starting at $99 mo.
We guarantee the highest product quality, top security, and unshakeable reliability. 1&1’s advanced Data Centers have been built from the ground up using the most advanced technology available, giving our global network a strength that is beyond doubt. The power and stability of 1&1’s systems allows us to be first to market with web products that are innovative yet dependable.
For more information!
Click Here |
|
|
 | Get a full dedicated server starting at just $29.95!
ServerPronto is a dedicated hosting subsidiary of Infolink, one of a few profitable Data Center Corporations in the world. From it's beginning in January 1999, Infolink served the "Value Orientated" segment of the Internet market. Not by offering a sub-standard product at a low price, but by offering a top-quality, feature rich product at an incredible price. Since the beginning Infolink has enjoyed dramatic growth while other's in the industry have suffered. We operate our own network in the USA and maintain redundant Fiber Optic Rings which allow us to directly peer with Tier 1 Internet Backbones.
For more information!
Click Here |
|
|
