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Pay By Touch Announces Chief Security Officer; Larry Hollowood expected to make great strides to put Pay By Touch's products on the map.

SAN FRANCISCO, April 18 /PRNewswire/ -- Pay By Touch today announced Larry Hollowood as chief security officer. Hollowood will manage information security and business continuity services, as well as oversee IT operations for the biometric payments company.

"Larry's expertise in security and technology will be incredibly valuable as Pay By Touch continues to grow," said John Rogers, founder, chairman, and CEO of Pay By Touch. "His vast knowledge working with emerging technologies and managing security architecture in the banking industry is aligned with our commitment to the highest standard for security at Pay By Touch."

Hollowood comes to Pay By Touch with more than 25 years of experience in the technology and security industries. Prior to joining Pay By Touch, Hollowood worked with Bank of America for eight years in a variety of executive-level positions in IT operations, including senior vice president of Corporate Information Security and Architecture and Emerging Technologies. While at Bank of America, Hollowood was also active in several external organizations that develop security and privacy standards, including the Liberty Alliance, OASIS and the OMG.

Before working with Bank of America, Hollowood managed information security at Mellon Bank, served in senior technical positions at Westinghouse Electric, and worked on a project for the U.S. Navy Atlantic Command Center in Norfolk, Va. Hollowood earned a B.S. Summa Cum Laude in Mathematics from Temple University.

Hollowood's role as chief security officer at Pay By Touch covers iPAY, a Pay By Touch suite of payment processing products that completes its offering to retailers for end-to-end payment solutions. Hollowood recently led iPAY through Visa CISP and SAS70 audits, demonstrating iPAY's commitment to security and information availability services. In addition, Hollowood will work closely with Pay By Touch senior management to ensure the success of Pay By Touch deployments throughout the country.

"We're seeing some really exciting consumer payment trends," Hollowood said. "With Pay By Touch, transactions are more secure since no one can see a shopper's account numbers at the point of sale, and each user's Pay By Touch wallet is encrypted and stored at secure IBM data centers. With these measures in place, we are making sure that transactions with Pay By Touch are secure, and that risk of fraud is reduced for consumers and merchants alike."

To date, the Pay By Touch consumer biometric payment solution is being deployed in Piggly Wiggly Carolina Co. stores throughout The Carolinas and Georgia as well as in other retailers throughout North America. Pay By Touch plans to launch in major national retail chains later this year.

About Pay By Touch

Pay By Touch is a biometric payment service free to consumers that allow shoppers to quickly and securely pay for purchases or cash checks using a finger scan linked to their personal identification information, financial accounts, and loyalty programs. The privately-held company offers retailers a complete payment solution, from front-end biometric authentication, age verification, and check cashing to back-end payment processing for ACH, debit card, and credit card transactions. Pay By Touch has more than two-dozen U.S. issued patents covering token-less biometric transactions. For additional information, visit http://www.paybytouch.com/.

CONTACT: Shannon Riordan of Pay By Touch, +1-415-281-2253, or shannon.riordan@paybytouch.com; or Paula Holland of Porter Novelli, +1-408-369-4639, or paula.holland@porternovelli.com, for Pay By Touch

Web site: http://www.paybytouch.com/
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Publication:PR Newswire
Date:Apr 18, 2005
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