No more swiping cards! A new technology that allows customers to use their facial features instead of swiping a credit card to purchase goods has been developed by a Finnish company.
The technology provided by Uniqul, works by recognizing the customer's face and then linking it to the individual's bank account . So instead of swiping a credit card to purchase goods, the customer gazes into a camera.
Uniqul claims its service is secured with military-grade algorithms , 'The Australian' reported . Uniqul's Ruslan Pisarenko said the technology — which is due to roll out next month — has the ability for transactions to be completed instantly and can even distinguish between identical twins, 'News Limited Network' reported. According to Pisarenko, "the face is a PIN and it's more like a complete way to identify a person.
The technology provided by Uniqul, works by recognizing the customer's face and then linking it to the individual's bank account . So instead of swiping a credit card to purchase goods, the customer gazes into a camera.
Uniqul claims its service is secured with military-grade algorithms , 'The Australian' reported . Uniqul's Ruslan Pisarenko said the technology — which is due to roll out next month — has the ability for transactions to be completed instantly and can even distinguish between identical twins, 'News Limited Network' reported. According to Pisarenko, "the face is a PIN and it's more like a complete way to identify a person.
Using such a system is certainly a lot more convenient than traditional methods. And as no two faces are 100 percent identical, such a payment system could reduce things like stolen credit card purchases and identity theft.
But in some cases where the system is not 100% accurate, it will ask a person to input their PIN as security," he said. There is no payment card involved, nor is a mobile or wallet needed. Customers sign up to the technology by registering their identification and bank details. Once the items are scanned through the customers' details will flash up on a screen and they click "OK" to confirm the transaction.
The new tech is similar to facial recognition identification which is used by international travellers at airports in Australia. The company is getting ready for deployment of the system in Helsinki, news website goodnewsfinland.com reported.
The company said its patent pending technology allows to reduce time spent on transactions close to zero seconds.
But in some cases where the system is not 100% accurate, it will ask a person to input their PIN as security," he said. There is no payment card involved, nor is a mobile or wallet needed. Customers sign up to the technology by registering their identification and bank details. Once the items are scanned through the customers' details will flash up on a screen and they click "OK" to confirm the transaction.
The new tech is similar to facial recognition identification which is used by international travellers at airports in Australia. The company is getting ready for deployment of the system in Helsinki, news website goodnewsfinland.com reported.
The company said its patent pending technology allows to reduce time spent on transactions close to zero seconds.
The system will work something like this: each store will have a Uniqul tablet at its check-out counters. This tablet would take the customer's photo and then process biometrical data to locate that individual within a database, which can be registered with any major credit card. They then press an "OK" button, and that's it! No signature is required and customers are in and out of the store quickly. According to Uniqul, the facial payment system reduces transaction time from 30 seconds to under five seconds.
The fee for using Uniqul is as follows: seven Euros for world-wide access, three Euros to cover a certain region and one Euro to cover 1-2 kilometers.
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| A new technology that allows customers to use their facial features instead of swiping a credit card to purchase goods has been developed by a Finnish company |
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