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Cub Foods Launches Biometric Payment Technology; Customers Can Purchase Groceries With Touch Of A FingerSTILLWATER, Minn. --(Business Wire)-- May 16, 2005 -- Cub Foods announced today that it is launching biometric payment technology in four of its Twin Cities stores. The new technology, provided by Pay By Touch, is free to shoppers and will allow them to pay for their groceries with a finger scan that is linked to their financial accounts. Eliminating the need to carry a wallet or checkbook in the store, the new system provides customers with greater convenience, security and speed at checkout. "Our goal is to serve our customers better than any grocer could," said Brian Huff, president of Cub Foods West Region. "Providing proven innovations and technologies--that give customers greater convenience and added security--is part of our commitment. To that end, we're thrilled to be the first grocer in Minnesota to offer customers the Pay By Touch system." Today's announcement marks the beginning of a four-month pilot program of the biometric payment technology at Cub Foods, beginning with the company's Blaine store, located at 4205 Pheasant Ridge Drive. In June, three additional Cub Foods stores--Eagan, Lakeville and Rosemount--will also offer the Pay By Touch service. Cub Foods will make a decision regarding full deployment of the payment technology based on consumer interest and acceptance. "Consumers across the country are embracing Pay By Touch because it makes the shopping experience convenient and secure," said John Rogers, founder, chairman and CEO of Pay By Touch. "Having shopped at Cub Foods when I lived in Minneapolis myself, I am so glad Cub is paving the way for biometric payments in the Midwest." How It Works Shoppers can use Pay By Touch after a quick one-time enrollment at a special kiosk located in participating Cub stores. Enrollment is simple and consists of providing identification, a voided check or EBT card and a finger scan. The Pay By Touch technology does not use actual fingerprints. It creates a set of 40 data points that cannot be reverse engineered into a fingerprint. The data points are encrypted and converted into a mathematical equation that allows for a secure identity match at the point of sale. The system is completely secure and customer information is never sold. Shoppers enrolled in the Pay By Touch service can use their finger to purchase products at any participating Cub Foods store. To pay for goods, shoppers simply place their finger on a scanner at the cash register. The system then displays the individual's electronic wallet, which contains the payment options available to them. During the pilot program, payment options will include Express Checking (direct checking account deduction) and EBT (electronic benefit transfer). Additional options, such as credit and debit cards, may be added at a later date. About Pay By Touch Pay By Touch is a biometric payment service free to consumers that allows 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 biometric transactions. For additional information, visit www.paybytouch.com. About Cub Foods Cub Foods, one of the first discount food stores in the country, established the original concept of "Consumers United for Buying" in 1968. In 1980, SUPERVALU bought Cub Foods and expanded it from five stores to 52 stores in the Twin Cities. Cub's efficient buying, volume purchasing and disciplined format bring low prices, innovation and convenience to its customers. Editor's Note: Interview and photo opportunities available at 10 a.m., Monday, May 16, at the Blaine East Cub Foods, located at 4205 Pheasant Ridge Drive in Blaine. |
