The Costcutter store at Brunel University in London has become the world’s first establishment to use the finger vein payment system. Through this system the store can then verify a customer’s identification.
The firm that has made this payment system is Sthaler. Already the firm is said to be in talks with other UK supermarkets to use the technology as well. The finger vein payment system is one of several biometric systems that can be used for identification.
Fingerprint Payment Coming To eCommerce
The way this works is for an infrared scanner to scan a finger’s veins. The scan is then linked to the customer’s bank cards. Details about the customer through the bank along with the scan are then stored with payment provider Worldpay for future reference.
Payment is fast, with transaction being done in just three seconds.
Sthaler has said that finger vein scanning is more secure than fingerprint scans. Fingerprint scans can be hacked, and prints left on screens can be copied.
Sthaler has said that with finger vein scans, it cannot be copied or stolen. The firm is in talks with other industries to use the technology to verify identification.
Stealing the identity of another is hard, as in the first place what is needed is to get the vein pattern on the finger. It would only work if the person is alive, and cutting off a finger to steal identity will not work.
“This makes payments so much easier for customers, they don’t need to carry cash or cards. They don’t need to remember a PIN number. You just bring yourself. This is the safest form of biometrics. There are no known incidences where security has been breached.” Simon Binns, the Commercial Director of Sthaler
U.S. businesses have also shown interest with this new biometrics technology. Sthaler CEO Nick Dryden has said that there are plans to visit the U.S. and introduce the technology at Money 20/20.
Does this technology have a future? Let us know your thoughts in comments section below.
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