The EyePay solution was designed to operate with the IrisGuard end-to-end EyeBank system. The EyePay POS works with retail store cash registers and interfaces directly with existing EFTPOS or cash registers or can operate in stand-alone mode.
The company informs the device lets customers pay for goods by looking into the EyePay POS terminal and payments are then executed in compliance with certain international banking standards.
The EyePay solution was also designed to serve unbanked persons in an effort to reduce fraud by ensuring that the correct beneficiary is physically present at the point of sale in a supermarket, and they can also receive remittances, cash benefits and salaries.
The EyePay POS meets the Know Your Customer (KYC) international regulatory banking requirements, ensuring that one’s allowance is received only to the intended beneficiary.
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