Pay By Touch discontinues biometrics services
Pay By Touch came to market with much fanfare, offering to process biometric transactions for merchants; things did not work as planned, and company discontinues service
Solidus Networks, dba Pay By Touch, announced that as of 19 March it was no longer processing biometric transactions on behalf of its merchant customers and consumer membership base. On 14 December 2007 Solidus Networks filed for U.S. bankruptcy protection under Chapter 11. As part of the company’s restructuring, it was determined that the enterprise could no longer support the biometric authentication and payment system as it currently exists, based on lack of funding and current market conditions. Other nonbiometric Solidus Networks business units continue on their current business paths.
The Chicago Tribune’s Jon Van and Becky Yerak describe the rise and fall of Pay By Touch.
