A Chicago-based payments technology specialist is looking to pioneer naked payments – that is, payments made without the use of cards, phones, or any other physical device – and is using Fujitsu technology to make it happen.
Called Keyo, the company has licensed the use of PalmSecure, Fujitsu’s palm vein scanning system, for use in its POS solution, offering businesses the opportunity to let customers pay with their palms. In a statement announcing the partnership, Fujitsu Frontech North America VP Randy Fox said “Keyo was extremely impressed that the registration for PalmSecure device users takes less than one minute and authentication takes less than one second.”
While such speeds may be impressive, the need for biometric enrollment itself is an obstacle for the spread of such technology among large retailers dealing with mostly anonymous customer traffic. But Keyo appears to be targeting the solution at smaller businesses, with the company highlighting its deployment at Cup & Spoon, a café and art gallery, in its announcement of the technology.
It’s the latest effort in what is quickly becoming an exciting new frontier in the world of payments, with major financial services companies like Visa and even the Japanese government exploring biometric naked payments technologies.
May 23, 2017 – by Alex Perala