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'Electronic wallet' firm raises $60 million

Pay By Touch is helping convince consumers to replace their charge cards with fingerprints.

Pay By Touch, a San Francisco company that's helping convince consumers to replace their charge cards with fingerprints, has raised a $60 million round of venture funding. The round, announced Thursday, brings the total cash raised by the company since September to $190 million.

The venture financing blitz comes amid reports that Wal-Mart Stores and Costco Wholesale are eyeing the company's technology. Its system is already in use at Albertson's and Cub Foods. In addition, Pay By Touch just merged with its main rival, BioPay, making it the top company in the budding biometric payments market.