MELBOURNE (TIP): 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. 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.