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COPYRIGHT 2004 SourceMedia, Inc.
Pay By Touch, whose fingerprint-biometrics payment product is being tested at Piggly Wiggly, Roundy's, Pick'n Save and other store locations to verify customer identities at the point of sale, is looking to add an additional authentication method to help Web-based merchants. The San Francisco-based company recently announced plans to acquire ATM Direct, which offers software designed to enable consumers to shop with checking-account funds using their PIN-based debit cards.
ATM Direct currently is in bankruptcy court because of a recent loss of venture capital, and officials from both Pay By Touch and Irving, Texas-based ATM Direct declined to discuss the process necessary to complete the acquisition. They also would not reveal the terms of the deal.
However, one electronic funds transfer network, Fiserv Inc.'s Accel/Exchange, is conducting a pilot in Texas with a limited card base to test ATM Direct's software. None of...
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