Biometrics 101

August 17, 2015

“There are several new products coming to market to support payments from Loop Pay, Apple Pay, Alibab’s facial payment platform and others. This is the new race to new innovative payments. Many are using different forms of biometrics such as but not limited to the following: facial recognition, fingerprint, voice and others are being explored. Well, what is the right DNA for payments? Do not get seduced by the applied innovation but focus on what will truly change the lives and environment for which payments are facilitated on a daily basis.

The fingerprint payment wallets are not the most robust in security and leaves a gap for potential compromise. Some of the others which are exploring facial recognition are moving into a more secure direction which will bring customers closer to the security they desire. The only challenge will be getting customers comfortable enough to provide their photo, “the selfie”, on a daily basis. selfiepay will provide 99% accuracy in identification of an individual and moreover the overall business model lends to premium security for mobile wallet users from end-to-end.

For the first time, selfiepay provides an app experience from the customer to the merchant, a contactless experience where customers can walk in a merchant store, login to their account with their selfie and make payments in less than 5 seconds. Lastly, customers have flexibility of three types of payments, a pickup, a POS pay and a refund transfer. How we will win is through engaging the user through the entire payment process and ensuring their security and most precious asset is not compromised daily, their personal identity. That is selfiepay’s GOAL!”

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