S.F.-Based Pay By Touch Adds Another $60 Million in Funding

San Francisco -- Just three months after raising $130 million in funding, Pay By Touch, a San Francisco-based developer of biometric payment technologies, said that it has raised another $60 million from hedge funds Plainfield Asset Management and Scout Capital, as well as several private investors. As part of the financing, the company said that its previous round of convertible notes was converted to stock. Pay By Touch's biometric payment products allow shoppers to pay for purchases or cash checks using a finger scan linked to their personal identification information, financial accounts and loyalty programs. In October, the company sold $75 million in senior notes and landed major investments from Och-Ziff Capital Management and Farallon Capital Management. Since then, Pay By Touch has completed the acquisitions of CardSystems Solutions, BioPay, Capture Resource, 7th Street Software and Convena.
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