Pay By Touch provides check cashing services for Lowe's Pay and Save, Inc. in Texas
Biometric Technology Provides Convenience for Customers, and Security for Stores
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San Francisco, CA — September 5, 2006 — Lowe's Pay and Save, Inc. and Pay By Touch today announced the introduction of biometric check-cashing to 78 stores in the panhandle of Texas and into New Mexico. Paycheck Secure, powered by biometrics leader Pay By Touch, uses finger-scanning technology to enable customers to quickly and securely cash government or payroll checks.
Paycheck Secure benefits both customers and retailers. The new system reduces fraud and enables retailers to keep check cashing fees reasonably priced for consumers.
"Paycheck Secure provides my customers a new level of convenience and discretion," says Roger Lowe, Jr., CEO of Lowe's Pay and Save, Inc. "I can provide better customer service by knowing my shoppers without having to hassle them for their ID. Paycheck Secure creates a sense of trust and privacy which makes customers want to come to my store more often."
"Pay By Touch is helping retailers like Lowe's Pay and Save, Inc. significantly reduce fraud while providing better customer service," said John Rogers, founder, chairman, and CEO of Pay By Touch. "Customers need and deserve a service like this."
More than $8 billion in checks have been cashed nationally using Paycheck Secure. In January, Pay By Touch acquired BioPay, the developer of the biometric check cashing system. To date, more than 2.9 million consumers are using the system to pay and cash checks – primarily in retail locations.
For additional information about the Paycheck Secure product, visit www.paychecksecure.com.
About Pay By Touch
Pay By Touch is the global leader of biometric authentication, personalized rewards, 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, earn rewards, and cash checks. Pay By Touch also provides robust payment processing solutions for ACH (electronic checking), 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 2.9 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 700 professionals and holds more than 30 U.S. issued patents. For additional company information, visit www.paychecksecure.com .
About Lowe's Pay and Save
Lowe's Pay and Save, Inc. is a family owned retail grocery store chain that was established in 1964. Today, the company has approximately 3300 teammates in 81 stores located throughout West Texas, New Mexico and one store in Arizona.
