Japanese tech conglomerate Hitachi has developed a new fingerprint biometric payment system that may one day replace Apple or Google Pay. The vein-based biometric authentication system is an easy way to pay for goods or services or check in to a hotel. All these things can be done with just your finger. Find more trending financial news at the GBC Time website.
To pay with new Hitachi technology, a user doesn’t need any hardware, like a smartphone or a bank card – just a finger. To purchase goods or services, you would have to place a finger over a reader, which will identify your personality and obtain all necessary data:
credit card number;
The company uses blockchain technology to store data and ensure the authenticity of the information. Hitachi itself won’t keep any personal information.
According to Hitachi, the new payment system will speed up transactions by at least forty seconds. The company plans to implement the system in retail shops and hotels by the end of this financial year. To use the service, users would have to register in advance, putting in payment information, proof of age, food allergies, professional qualifications, etc.
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