Hypercom and BioPay Team Up

Wednesday 24 September 2003 09:16 CET | News

Thousands of consumers at retail outlets throughout suburban Washington, DC will be among the first in the US to have the option of paying for goods and services with a mere touch of a finger thanks to Hypercom ICE card payment terminals and BioPay BioPIN finger-scanning pads.

An initial roll out to nearly two dozen retail locations has just been completed. With convenience, faster payments, security and identification verification as overriding business goals, BioPay and Hypercom have teamed up to bring to retailers smart, fast and industry-leading technology that can go a long way in lowering merchant payment costs and reducing check fraud and ID theft. Heres how it works. A customer presents a blank personal check to the participating merchant, along with their drivers license or other valid ID for scanning. The customer also enters an easy-to-recall 10-digit unique BioPay number (e.g. a telephone number). At the same time, the customers two index fingers are scanned on the Hypercom BioPIN finger pad and converted into an algorithmic number. In less than one minute, enrollment is complete. From that point forward, whenever the consumer wants to pay for a purchase at the participating retailer, they simply enter their BioPay number, place their index finger on the BioPIN biometric finger pad and payment is authorized from their checking account within ten seconds.

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Categories: Payments & Commerce | Payments General
Countries: World
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