2.5.1 Fingerprint technology
Payween uses Fingerprint technology while you are making payment. The people treat with fingerprint payment and traditional payment differently. Biometric fingerprint password can enhance payment convenience and security effectively. Fingerprint payment will be a new mode of mobile payment. Currently, cash and bank card payments are still most common methods of payment in all over the world. The current variety of new payment methods are just using some combinations of technical and financial payments. Fingerprint payment of development is still in beginning stage. It needs a long-term market development. Fingerprint uses its uniqueness as payment medium and offers convenience, but also brought a lot of additional risk to users. As personal privacy concerns, security and legal issues, even personal safety issues must be taken into account. Additionally, due to the credibility, coordination and financial reasons, fingerprint payments have been promoted and constructed independently by third party company. It is developing slowly in the market. In order to solve these problems, we need to invest substantial capital investment. Likewise, the payment legal systems, also fingerprint payment chain needs to be perfect.
Everywhere today, people rely on cards and mobile phones to pay. Many are already benefiting from the convenience of fingerprint biometrics on smartphones without having to remember a PIN code. But, what about making payment using your fingerprint? Revolutionary fingerprint biometric payment system as an alternative to cash or credit cards in hotels and restaurants, retail shops, leisure businesses etc. More and more fingerprint biometrics and its several applications will be used as effective solutions in commercial sector. A real alternative to money and credit cards use is fingerprint biometrics payment solution for restoration sector in general, but also in supermarkets, retail, leisure, etc. By using a fingerprint reader and a software application, customers don’t need money or credit cards, just placing its fingerprint in a fingerprint reader, customers can pay the bill and go.
Payment solution through biometric fingerprint consists in a self-installing USB system which allows reading customer’s fingerprint, which previously has been logged into the system, to make payments with no need of money or credit cards.
Let’s see some benefits;
· Biometric fingerprint payment system gives facilities, security, speed and comfort to payments in shops, restaurants, etc.
· Biometric fingerprint payment system benefits all sectors involved with this product, both customers as businessman.
· It gives more comfort, so it removes margin of error in money changes when customer pays in cash desk.
· It is also more safety, so staffs don’t need to use money and also system eliminates identity replacement due to theft card.
In the generation of mobile internet, fingerprint payment is one of the most popular topics at the moment. Unites States, Europe and China have a big market and many users are using the mobile payment methods. There are a large number of mobile phones equipped with fingerprint recognition technology. As we know, fingerprint payment brings us more convenience and safety. We do not need to use many bankcards, and fingerprint also eliminates the users from the trouble of queuing to pay. However, users send traditional digital password information though the network, and it is easy to hack. Replaced by digital password payment, fingerprint payment has become a new trend in the field of payments.