Friday, December 09, 2005

BioPay to be acquired by Pay by Touch

The Washington Post tell us:
BioPay LLC, a Herndon company that sells biometric technology that allows consumers to pay for goods by scanning their fingerprints, agreed to be acquired by San Francisco rival Pay by Touch for $82 million in cash and stock.
Pay by Touch will take over all of BioPay's retail customers, as well as its database of consumers and portfolio of patents. The companies say their systems offer speedier checkout lines for consumers and lower transaction fees for retailers, but some privacy-rights advocates have voiced concerns that the firms have amassed huge databanks of personal information.
What will these companies will do with that huge databank of personal information? It's a good question, but aside from having a fingerprint as a personal identifier instead of, say a credit card number, these privacy concerns are no different than ones voiced by people worried about the major credit card holders' control over personal identification information (granted a good bit of federal oversight prevents them from doing anything too nefarious).

Check out the rest of the article and then go talk to the ACLU if you're worried :)

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