Hitachi offers a fingerprint-only payment system
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Today, you won’t surprise anyone with a biometric authentication system: you can receive services and pay for purchases by identifying yourself by voice, fingerprint or face. In most cases, the payment system accesses the customer’s bank card at the same time, which must also be presented, albeit via a smartphone. Hitachi is introducing blockchain technology in this area so that a person can pay with just their fingerprint.
According to Nikkei Asian Review, the company has developed a biometric authentication system based on the pattern of blood vessels on the user’s finger, while interaction with third-party databases is done through distributed accounting technology (blockchain), protecting the transaction.
The client will only need to pre-register his biometric data in the system, and then he will be able to pay for services without carrying a bank card or smartphone. The system will allow you to request other data, including information on the availability of vaccination certificates and proof of age.
Hitachi itself will not store personal customer data, it will only arrange interaction with third-party databases via the blockchain. Operations such as paying for hotel services, for example, will take 40 seconds less than before.
Hitachi is introducing blockchain technology in this area so that a person can pay with just their fingerprint.
The company will earn commissions on transactions and the sale of biometric scanners. In three years, Hitachi intends to increase the turnover for the sale of this type of products and services to 81 million dollars.
Principal functions: Exemption from the use of means of payment: cash or bank cards that can be forgotten or lost. Acceleration of the settlement procedure: the time to identify the buyer and pay for the purchase is 3-5 seconds.
Automatic participation in loyalty programs: no need to get the loyalty card, which shoppers tend to forget at home. Increased degree of security: no one except the buyer himself will be able to carry out transactions on the account, the fingerprint cannot be transferred to another or falsified.
Cost control on a special website in your personal account: When paying for a purchase or service, the buyer puts his finger on the biometric scanner, the system identifies him and starts the payment procedure using the method selected during registration.
At the same time, an individual loyalty program for the seller of goods and services is launched. These can be cumulative discounts, reward points, personal offers: birthday discounts, information about products or services that are of interest to the buyer, etc.
The total amount is displayed on the screen of the cash terminal, the system automatically debits the funds from the account. The use of fingerprints is absolutely safe for consumers: The database does not store the printed images themselves, but their mathematical templates. It is not possible to restore a fingerprint image from such a template. It cannot be used outside of this system.