Fingerprint payment. It has been talked about. It took a long time. But it has arrived. A San Francisco start-up, Pay By Touch Solutions, announces today $130 million in fresh financing to roll out a way for you to use your fingerprint to pay for groceries and other goods and services.
Here is the Mercury News story (free registration) that ran today.
These guys were smart. They realized there was all this cash sloshing around at hedge funds. So they went out and tried their luck. The capital raised — $55 million of it in convertible notes and $75 million in loans — will help the company build out its finger-reading payment systems at several nationwide retailers, including in California in the first quarter of next year.
Update: VentureWire follows with a story (sub required), and includes this tidbit: Pay By Touch Chief Executive John Rogers said the company expects to file for an IPO within the next 18 months, is and already holding what Rogers calls “pre-meetings” with institutional investors.