From science fiction to real life, biometrics may one day play a key role in how we pay for goods and services.
A group of enterprising young minds is working to make biometric identification the safest and most reliable payment method of the 21st century.
Backed by Y Combinator as well as some of the top investors in Silicon Valley, PayTango and its founders tell Tech Crunch that they are partnering with local universities “to offer a quick and easy way for students to use their fingerprints to pay instead of credit cards.”
You probably have at least a dozen cards in your wallet – credit, debit, loyalty, ID. Now imagine associating them all to your fingerprints. Touch the PayTango fingerpad to pay and you’re on your way.
The four-person team built an initial prototype with a functional fingerprint scanner and credit card reader.
“The very earliest product was just basic,” explains CEO Umang Patel. “But it was a great product to get out there and users responded to it very early on.”
The on-boarding process for users is really easy. They touch the fingerpad with their index and middle fingers and if they’re not in the system already, PayTango automatically detects that. It will ask them to swipe a card to associate with their fingerprints and then enter in their cell phone number. That sign-up process made it fast enough for 100 students to sign-up within four hours on campus.
Although it’s “too early” for the group to prep a business model, the technology not only works, it seems to be popular and it’s certainly generating no shortage of international interest.
Does biometric identification at the point of sale sound desirable to you? Please weigh in with a thought or comment below.