April 16, 2014
Biometric Authentication gained quite some attention during 2013 with Danal, Zwipe and a few other notable companies entering the space and even dishing out some products. Recently, PulseWallet partnered with Fujitsu Frontech to make use of their PalmSecure biometric technology for payments. Now in another display of innovation, Swedish Student from the notable Lund’s university has introduced a technology that scans the user’s palm for vein patterns - and uses the individual pattern as a payment confirmation.
Quixter is not the first to dabble with biometric payments however:
PulseWallet, an Electronic transaction POS provider, demonstrated their innovative cardless POS solution at CES (Consumer Electronics Show) international between the 7th and 10th of January, 2014 in Las Vegas. Its solution already enables users to pay for products with just their finger but the problem with that setup is that the fingerprints can potentially be lifted according to the company.
Now PulseWallet is converting to a more secure biometric technology that combines data on palm vein patterns with fingerprint data from three fingers. PulseWallet partnered with Fujitsu Frontech to make use of their PalmSecure biometric technology. The integrated PalmSecure vein imaging technology allows merchants to provide a secure payment option, whilst giving users an all-in-one payment system for them to access their eWallets.
YC backed startup PayTango, seeks to enable customers to pay via Fingerprint Scan. PayTango was Co-Founded by 4 CMU (Carnegie Mellon University) graduates – Brian Groudan, Kelly Lau-Kee, Umang Patel (CEO) and Christian Reyes in August 2012. The company has received a total funding of $700K through investors Y-Combinator and Andreessen Horowitz in Seed Round.
PayTango’s system links a form of payment such as debit or credit card, to a user’s fingerprint. He will then have to only place his index finger and middle finger on the biometric fingerprint scanner to make payment. The software immediately recognizes the user.