Video Jon Siegal on Pay by Touch Online: click picture left or Here
DEMO 2006 Participant:
Product: Pay by Touch Online
Market Segment: Consumer software and services
Overall Funding: $237 Million
2006: $60 Million Dollars: On January 26th, 2006, Pay by Touch closed more than $60 million in new financing through its sale of Series C Preferred Shares. The company continues to prove its business model to the financial community, raising more than $190 million during the past three months.Participants in the financing include hedge funds Plainfield Asset Management and Scout Capital, plus private investors such as Quince Associates and Global Trust Partners, among others. As part of the financing, the company's prior round of Convertible Promissory Notes was converted to the new Series C Preferred Shares.
2005: $130 Million Dollars: In October of 2005, Pay by Touch closed on $75 million in senior secured notes with major investments from Och-Ziff Capital Management and Farallon Capital Management. Other participants included Plainfield Asset Management. $55 million in convertible promissory notes offering, with major investments from Getty Trusts, Ron Burkle of The Yucaipa Companies, and Rembrandt Ventures.
2003: $37 Million Dollars: Led by Mobius Venture Capital, and included the Gordon P. Getty Family Trust and private investors.
Competitors: RSA Security (Cyota), Passmark Security
Product Description: Pay By Touch Online is a new payment and identification service that gives consumers a fast, easy and secure way to identify themselves and make purchases on the Internet by providing a quick finger scan on their personal computers. The new service, which uses Pay By Touch’s U.S. patented biometric technology, increases both security and convenience at the same time.
Market Opportunity: Pay By Touch Online was created to protect consumers’ personal and financial information from increasing security threats to online commerce. The company’s target market includes 186 million U.S. Internet users estimated for 2006 (2003 U.S. Census, eMarketer, April 2004) and the more than 450,000 Internet merchants conducting U.S. business (Forrester, 2004)
DEMO 06 Says: There’s no more simple way to tender payment than the touch of a button, and that's what Pay By Touch Online offers consumers. A quick fingerprint scan triggers a debit or credit payment at the checkout or online. In regional trials, consumers have overwhelmingly embraced the Pay By Touch Online system. And because it reduces fraud, speeds checkout, and requires little or no change to transaction processing, Pay By Touch Online is being adopted by national supermarket chains. If early trials are an accurate indicator, it won’t be long before we can leave our wallets at home and simply Pay By Touch.
SHOW:
Conference: 2006 DEMO , 2006 INNY Award Winner
Show Contact Alicia Swanson email
Address 101 Second St., Suite 1500 San Francisco, CA 94105
Phone: 415-281-2200 FAX: 415-281-2201
Company URL: www.paybytouch.com
Corporate Officers
John Rogers, Founder, Chairman, and CEO
John Morris, President & COO
Jon Siegal, Executive Vice President
Caroline McNally, CMO
