Fingopay Partners with Cardstream Ahead of Global Naked Payments Launch

Fingopay Partners with Cardstream Ahead of Global Naked Payments Launch

Fingopay has partnered with Cardstream as it moves towards a global rollout of its naked payments platform. The alliance will give Fingopay access to all of the payment partners and applications that are connected to Cardstream’s Open Payment Network, which will allow it to expand rapidly as more retailers incorporate the technology.

The global launch will kick off in Manchester, England, which will be the first city to support Fingopay on a broad consumer scale as of this summer. The scheme will then continue to expand into new markets over time. 

Fingopay uses Hitachi VeinID technology to authenticate users based on the vein signature in their finger. After linking their finger to their bank account, users will be able to pay for goods and services with only their finger after an infrared light terminal makes a quick scan to verify their identity at participating retailers.

Like other naked payment schemes, Fingopay eliminates the need for cash, cards, or other devices at the checkout counter. The solution was first announced in 2016, and went on to enjoy a successful pilot at the Copenhagen Business School in Denmark, where the program was expanded due to popular demand.

Cardstream offers a secure, white label cloud platform that will give Fingopay more flexibility as it searches for opportunities in other markets.

June 6, 2019 – by Eric Weiss