Pay by Touch Files Bankruptcy

Pay By Touch or Solidus Networks, Inc. has filed bankruptcy in the U.S. As of March 19, 2008, all biometric transactions have ended. Pay by touch was inserted into the market place as a safety net for consumers. The intent was to easily sign up and use your finger print to be identified when cashing checks, or using your charge card. No written signature was required, or needed. It made perfect sense at the time. It was a kinda fun idea too.

Pay By Touch was all the rage as supermarkets and gas stations promoted this latest gadget in consumer spending. Solidus has claimed due to company restructuring issues they can no longer upkeep the Pay By Touch system. It has become too much for their pocket book.

Based in San Francisco, Solidus Networks, Inc. will continue to do business as usual. Minus the Pay By Touch system. It's membership was wide spread. Merchants pulled the plug in their locations and wheeled the Pay By Touch system out of consumer reach.

The fact is that many plans and systems go belly up. Many hold personal information that directly identifies each human life. What does this mean for the consumer? Where is your finger print now?

The personal data you released, name and address for example-are probably safe. Tucked away in some electronic device some where. I doubt that info is just whizzing around in space... or is it? Who really knows where electronic information lands? Can it be shredded like paper information can? Once you click delete, does the information just turn to dust?

Another fact of life, another lesson learned. Not all that is hi-tech will survive. Let this be a lesson to us all. Be careful where you trust your personal information. At least don't be the first to sign on to the newest craze. Wait at least until it has passed the staying mark. Don't be a victim to the unknown.

The question remains,"where is your finger print"? I hope the Solidus Network, Inc. will release a statement on this issue. Do they plan on "selling" all the information they collected? Can they? Is their another company out there wanting finger prints?