17 October 2017
visit www.response.ncr.com

Startup trials POS palm payments

10 March 2017  |  11491 views  |  6 biometrics - eye

A Chicago startup has built a biometrics-based payments system that lets people make purchases by holding their hands over a scanner at the point-of-sale.

To sign up for the Keyo system, shoppers create an account online, receive a registration code and then visit a retail location with one of the firm's terminals to enter the code and map the unique blood vessel patterns in their palms.

They can then add cards and make purchases at participating retailers by waving their hands over the Keyo terminals and then selecting the payment method. An online and app-based dashboard lets customers view their purchases, manage their cards and receive rewards.



The service has been built by husband and wife Jaxon Klein and Cayetana Polanco, along with friend Delna Sepoy Straus, using hardware from Fujitsu, which has been using biometric vein technology for ATMs in Japan for several years.

According to local news site Chicago Inno, the system is currently being tested with a couple of Chicago retailers, with plans afoot for a wider beta involving 30 sites, charging a flat one per cent fee on transactions.

Klein tells Chicago Inno: "We really see a future without keys, cards, wallets, IDs and tickets."

Keyo is far from the first firm to investigate biometric-based POS payments. Earlier this London music venue Proud Camden took the wraps off a similar system, called FingoPay, from biometric company Sthalerm, while India's Yes Bank has built a POS device that uses iris scanning technology.

Comments: (6)

Alexander Peschkoff
Alexander Peschkoff - TEDIPAY - London | 10 March, 2017, 09:26

Doing one-to-many matching is "challenging", mildly speaking - scaleability IS a huge issue. Then there is a question of template storage in the cloud - that's illegal in Europe (USA will likely follow).

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 10 March, 2017, 10:59

Alex, good point, and we've been there before with thumbprints, and the blood vessel scans were to overcome false negatives after a fishing or handyman weekend. Here we have 5 times the data. I should probably mention a little thing I did with thumbprint sized pieces of plasma TV screens. Small LED's might suffice. I do wish them luck.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Roberto Garavaglia
Roberto Garavaglia - Innovative Payments Strategy Advisor - Milan | 10 March, 2017, 15:51

Some security issues in Europe might hamper the adoption. Since the Keyo solution is based on a remote payment transaction (at the end of the day it's a digital wallet payment done in a brick&mortar location), the recently published EBA RTS on SCA & CSC provide that a two-factor authentication must be applied for such payments but the low-value ones (max 30 EUR).

Interesting to see if TRA (Transaction Risk Analysis) could consider this biometric solution appropriate for exempting the strong customer authentication.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Vernon Forbes
Vernon Forbes - Mitek Systems - San Diego | 13 March, 2017, 16:44

This is more a question than a comment.  It sounds like Keyo covers both (very good) concerns brough up by @Alexander and @Dean?  It provides enough additional data that false negatives should be eliminated and it is really no different than other mobile pay solutions.  

Isn't the multi-point palm scanner very accurate?

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
A Finextra member
A Finextra member | 13 March, 2017, 22:21

Hi Vernon, clearly 5 datasets is exponentially better than 1, however I don't recall false positives being as much of an issue with blood vessel scanning, as opposed to (thumb)fingerprint scanning. The amount of data you compare doesn't make any difference to the outcome provided the back end is secure (except time to process/transmit/process). Of course no back-end is secure with state actors back-dooring everything the back-end relies upon, 'secure' doesn't mean what it used to be. Personally I don't favour biometrics because they are non-renewable credentials and once compromised, they are never again 'secure'. For that reason I prefer an approach where credentials are renewable and where merchants require no additional technology (or responsibility) and there is no reliance on the security of the network.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Vernon Forbes
Vernon Forbes - Mitek Systems - San Diego | 14 March, 2017, 02:27

Those are excellent points.  In fact, I have never heard anyone address the non-renewable aspect of biometrics.  Having these compromised would be exponentially worse than being a victim of identity theft today.

Cheers!

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

FingoPay unveiled at London music venue

FingoPay unveiled at London music venue

31 January 2017  |  6072 views  |  0 comments | 14 tweets | 11 linkedin
Visa looks to kill passwords with multiple biometric authentication options

Visa looks to kill passwords with multiple biometric authentication options

14 November 2016  |  10320 views  |  2 comments | 14 tweets | 14 linkedin
Yes Bank brings iris scanning tech to POS terminals

Yes Bank brings iris scanning tech to POS terminals

17 October 2016  |  8650 views  |  0 comments | 14 tweets | 14 linkedin
Europeans keen to secure payments with biometrics

Europeans keen to secure payments with biometrics

14 July 2016  |  10325 views  |  0 comments | 22 tweets | 21 linkedin
Selfie payments: Marketing stunt or the real deal?

Selfie payments: Marketing stunt or the real deal?

25 May 2016  |  9377 views  |  0 comments | 14 tweets | 27 linkedin
JCB to trial palm vein authentication for cardless payments

JCB to trial palm vein authentication for cardless payments

07 October 2015  |  9694 views  |  6 comments | 14 tweets | 21 linkedin
Fujitsu launches biometric ATMs in Europe

Fujitsu launches biometric ATMs in Europe

11 April 2014  |  11979 views  |  1 comments | 17 tweets | 15 linkedin
Banco Bradesco trials Fujitsu palm vein authentication technology

Banco Bradesco trials Fujitsu palm vein authentication technology

13 July 2006  |  9675 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.temenos.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
14917 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8194 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7548 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
6846 views comments | 13 tweets | 7 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6158 views comments | 8 tweets | 16 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job