Make your payments with your face
Uniqul a Finnish company has developed a new technology that allows people to pay money with their faces. The company suggested a new bio-metrics system to make the transaction. Uniqul declares to develop the first face payments scheme in the world.
As soon as the costumer reaches the cash counter the camera recognizes them and it provides link to their bank account. Uniqul claims their services are highly secured. It uses military grade algorithms to identify the costumer. Uniqul’s new technology is much the same as facial recognition system which are widely used in international airports. Uniqul states that this new technology is scheduled to come into act from next month. This new-tech has the capability to make the transactions very instantly. It can even differentiate two identical twins. In this the face is the PIN code and it is used to identify a person then gives permission to access their account. Users can sign up to this technology by registering their identification and bank account information. When the user’s details is stored in the cloud ( internet ) it can be used from any retail shops. When the purchased things are scanned the details are flashed on a screen and users are requested to click on ” OK ” to complete the transactions. However the system is still in its beginning stage and the demo model has not yet been reached the retailer shops. At present this technology has ninety six percentage of recognition rate success and the remaining four percentage has to enter the PIN code to make the transaction.
CEO of Uniqul says that the success percentage of recognition would be increased by this autumn. The company will charge their users a monthly payment, which depends on where they want to use it. Pricing for the merchants has not been finalized but the company tell to offer low prices in order to promote their business.