Biometrics-based payment system coming soon for Singapore school kids
Singapore-based Coolpay has customized its biometrics-based loyalty and payment solution, Touché, for the school environment.
The customized solution, which eliminates the need for cash, cards, wearables, vouchers or smart wallets by allowing payment through just two fingers, will be an upcoming feature of the POSB Smart Buddy program to facilitate a simpler payment experience for students.
Students register their two fingers once on the device and link it through the POSB Smart Buddy program to their parents’ bank account. The students could then pay using their two fingers at any Touché device in the school. Combined with existing features of the POSB Smart Buddy program, parents can supervise their children’s spending, the items they buy and set limits on their daily expenditures.
“Our partnership with POSB Smart Buddy to demonstrate how the world’s first biometric payment solution can be suitable for school children is an exciting development – it is in line with our Prime Minister’s focus on making Singapore a Smart Nation” explained Mr. Sahba Saint-Claire, CEO of Coolpay. “At Touché, we are incredibly proud of our ‘Made in Singapore’ stamp; and hence, it is just fitting that we have an opportunity to bring the convenience of biometric payments to our Singaporean school kids as early as Q1 2018.”
The Touché platform was initially launched in January.