Paying at your fingertips: Tech company creates new payment method

Global Business

Representatives of Fingopay chat to customers about the advantages of signing up for this new payment method. After a short registration process, customers present their fingers to the Fingopay reader.

CGTN’s Catherine Drew reports.

Paying at your fingertips: Tech company creates new payment method

A new UK Fintech company is using biometric data to give you access to your bank account. And a music venue in the city is the first to offer customers the ability to leave their wallets at home. CGTN's Catherine Drew has more.

“We shine a near infrared light through your finger, which illuminates your vein pattern in your finger, and we all have this unique vein pattern that is completely unique to you, and what we do is sync a credit card or a debit card to that unique identity so that all you need is your finger to pay and it actually uses a card to complete the payment,” Sthaler CEO Nick Dryden explained.

While this technology is in use in Japan and Poland for some bank customers, this bar in London is unique in offering this way to pay for actual goods and believe Fingopay will make the drink buying experience more efficient.

It’s live music venue during student night at the bar and business is brisk with various methods of payment on offer. But whether this technology takes off will depend on its appeal to a broad section of society.

Those who study developments in biometric data see the use of unique body parts more reliable than finger prints and as a natural development but are cautious about its appeal to a mass market