Pay By Touch, a San Francisco-based provider of biometric payment authentication products that use fingerprints to verify consumers at the point of sale, is opening an office in the UK.
The system scans customer fingerprints at the PoS and links the image with an electronic wallet which holds financial and loyalty programme information, eliminating the need to carry cards, cash or a cheque book.
Pay By Touch says the initial enrolment process takes about a minute as customers put their finger on a reader, enter a code and swipe the cards they want to use. The scanning technology does not store actual fingerprints but instead creates a set of geometric points that allow for a secure identity match.
The service is designed to speed up the point-of-sale process for the consumer, while allowing them to prioritise payment preferences. Retailers can also use the technology to capture loyalty data from the shopper with every purchase.
Craig Ramsey, CEO of Pay By Touch - and previous EVP of worldwide sales at Siebel - says: "The opening of the UK office marks a milestone in the growing global acceptance of biometric technology as a secure and convenient payment method."
The firm secured a $10 million financing round and announced a new executive management team in October last year.