PayEye scans your iris to make contactless payments

Friday 10 July 2020 14:15 CET | News

Poland-based payment institution PayEye has revealed its biometric payment method that scans your iris.

According to The First News, PayEye is the first company in the world to launch iris payment on the commercial market. The biometric technology and microbanking system that operates the PayEye technology was developed by PayEye scientists and IT specialists and functions by taking a digitally scanned image of the iris, which is then converted into a special code to authorise the payment.

Moreover, the company has already received 10 million PLN in funding from the EU for ‘Industrial Research and development of a biometric payment system based on transactions confirmed by user identification through biometry’ to continue the development of the product and expand its availability.

Furthermore, PayEye plans to expand into 60 outlets across the country by September 2020, before making the eye-payment technology available across Europe. Currently, the payment solution was introduced in 30 locations across Poland. 

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Keywords: PayEye, biometric payments, iris scan payment method, Poland, eye-payment technology, Europe, contactless payments
Categories: Payments & Commerce
Countries: Poland
This article is part of category

Payments & Commerce