Authentication & Security

Yapital Testing New Technology for Payments via Fingerprint Scan

MEDICI

On 3rd July 2014, he first European cross-channel payment solution – Yapital – announced that it is currently testing payment by fingerprint scan. The technology could replace PIN entry when paying by smartphone, according to them.

“Yapital seeks to rapidly harness new technical possibilities, if they actually improve user experience,” stated the Senior Vice President of Innovations at Yapital, Oliver Kress, in a press release.

“As the major smartphone manufacturers are now integrating fingerprint scanning into their products, we have immediately launched appropriate tests,” he added.

  • Yapital says that the aim is to discover whether new technologies meet the demands that the company places on usability as well as security.
  • According to Kress “it must be easy, intuitive and secure for the consumer – only then we will implement it”.
  • The payment process by fingerprint would already be this year’s third major innovation by the cross-channel payment solution, says the company.

In 2014, Yapital has already introduced the integration of Bluetooth Low Energy (BLE), as well as purchasing by scanning a QR code directly from advertising spaces, such as from shop windows or posters.

About Yapital

Yapital was established in 2011 as a wholly owned subsidiary of the Otto Group. Yapital Financial AG is licensed in Luxembourg as an electronic money institution. It is the first European, cashless cross-channel payment solution operating across all channels: in-store, mobile, online and by invoice.

For business customers, Yapital is a guaranteed means of payment – this provides process security and reduces administrative costs. In addition, Yapital seamlessly covers all trade as well as service channels, thus enabling marketing channels to be converted into sales channels. Business customers can therefore not only reduce costs with Yapital, but can also simultaneously open up new revenue potential, according to the company.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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