June 1, 2012 -
The Ushuaia Ibiza Beach Hotel in Spain has begun a trial of PayTouch, the world’s first fingerprint payment system. Instead of carrying one’s wallet and cash around, guests will be asked to register their fingerprints to one or more credit cards.
Guests using the system can easily make payments for food, drinks, and hotel services, by touching two fingers to a biometric reader. The whole payment process takes less than five seconds to complete, with transactions being verified in real-time. The system is secure, as it uses the same technology as the banking institutions, including the PCI-DSS framework in securing card payments.
The PayTouch system was developed by a group of Barcelona entrepreneurs and obtained partial funding from the Spanish government.
Will biometric payment systems displace physical debit and credit cards