Biometric identification is not a new concept; it’s been used for years for identification of an individual by the law enforcement and intelligence agencies. However, a Swedish company has come up with a new twist on biometrics, which allows you to buy things without using cash or credit cards. Your payment system is simply your palm.
Quixter, a Swedish startup, has already deployed its new palm vein biometric payment system. With this technology in hand, no pun intended, there’s no need to carry credit cards or cash. Your palm and a phone number are all you need.
Quixter works by adding a biometric scanner into the payment device. Once signed up, the unique pattern of veins in a person’s hand is linked to a specific bank or credit card account.
When you’re ready to pay, you just have to type in the last four numbers of your phone number and then place your hand on the scanner.
Secure Payments: Quixter is secure from fraud, as every person has a unique pattern of blood vessels in hand. There really is no way of committing fraud with this unique payment system, unless of course, someone cuts off your hand and uses it.
Right now, Quixter’s payment system is in use at 15 locations at Lund University in Sweden. However, to take this technology to the next level, it needs some big investors to take an interest in it.
Take a look at Quixter in action and see if this beats carrying credit cards and a heavy wallet around: