Biometric authentication transactions to cease at 11:59:59PM March 19, 2008
SAN FRANCISCO – (March 19, 2008) – Solidus Networks, Inc., dba Pay By Touch, regretfully announced today that it will no longer process biometric transactions on behalf of its merchant customers and consumer membership base, as of 11:59:59PM March 19, 2008.
On December 14, 2007, Solidus Networks filed for U.S. bankruptcy protection under Chapter 11. As part of the company’s restructuring, it was determined that the enterprise could no longer support the biometric authentication and payment system as it currently exists, based on lack of funding and current market conditions.
Other non-biometric Solidus Networks business units will continue on their current business paths.
Solidus Networks extends its sincere gratitude to the shoppers, merchants, vendors, investors, partners, and employees who have been supporting the company’s vision since its first biometric payment transaction in 2002.