Only biometrics allow you to make payments any time, any place, anywhere, reports the Times. On top of this convenience, consumers now rate it the most secure form of digital authentication. The article in the paper’s Raconteur section wonders if now is the time to say “goodbye” to our plastic, PIN codes and passwords.
Mark Nelson, senior vice president of open banking for Visa, says: “Over time that does seem likely. But it all requires baby steps to ensure consumer confidence doesn’t erode.”
A 2017 study by Visa found that consumer confidence in biometrics as a secure form of authentication is up to 84%, compared with 59% the previous year.
Sthaler was formed to find a new way to pay. The company worked with music festival industry to develop a cashless, card-free payment system that was available to everyone. Sthaler developed Fingopay, using VeinID technology, in partnership with Hitachi. Their registered customers use it to pay in bars, restaurants and shops.
Blue Star Capital PLC (LON:BLU) is an investing company with a focus on new technologies. Blue Star’s investments include a 1% holding in Sthaler.