Pay By Touch snaps up S&H Solutions & Greenpoints
The biometric payment system operator Pay By Touch has acquired the retail loyalty programme operator S&H Solutions and its parent company S&H Greenpoints for over US$100 million in cash and stock.
The acquisition is part of Pay By Touch's ongoing corporate strategy to acquire companies that complement its portfolio and provide future growth opportunities. As part of the acquisition announcement, J. Stuart Moore (co-founder and director of Sapient) has joined the board of Pay By Touch, bringing some 20 years of leadership, management and technology experience to the company. Moore is also a founding investor and board member of S&H Solutions.
S&H background S&H Solutions' suite of services includes the S&H Greenpoints Reward Programme (the digital reinvention of the Sperry & Hutchinson Company's original Green Stamps). Launched in its original stamp form in 1896, S&H Greenpoints rewards millions of consumers with loyalty points for their spend with participating merchants.
More than US$200 million dollars have gone into developing the company's real-time marketing technologies, including a sophisticated analytical engine that enables retailers to deliver one-to-one consumer messages in-store through multiple proprietary platforms.
Pay By Touch plans Pay By Touch specialises in biometric authentication, personalised marketing and payment solutions, and has patented systems in use by approximately 3.4 million shoppers, allowing them to quickly and securely access personal accounts using a finger scan to identify themselves, make purchases, and cash cheques.
According to John Rogers, founder, chairman, and CEO for Pay By Touch, "We looked at personalised marketing services and, around the world, none of them comes close. S&H's solutions and team make it the perfect strategic fit with Pay By Touch. We are extremely pleased to welcome the S&H team, and look forward to working together to help merchants deliver the right offer to the right shopper at the right time."
According to Ron Pedersen, CEO for S&H Solutions, "Together we aim to transform the personalised marketing industry by offering unprecedented opportunities for relevance marketing and customization."