Pay By Touch acquires CardSystems
A Reuters newswire article, via CNN/Money, reports that:
Pay By Touch Solutions said Sunday it had agreed to acquire the assets of CardSystems Solutions Inc., a credit-card processing company hit by a massive security breach earlier this year.
Privately held Pay By Touch, which is rolling out technology that allows consumers to pay at stores by scanning a finger on a touchpad, said it was making the acquisition to gain access to about 120,000 merchants who use CardSystems to process payments.
Terms of the deal were not disclosed.
It was announced a day after electronic payments company CyberSource Corp. withdrew an offer to buy the assets of CardSystems.
CyberSource, which had announced on Sept. 23 that it would buy most of CardSystems' assets, said Saturday it could not reach a deal in a "timely manner."
posted by Fergie @ 10/17/2005 09:09:00 AM
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