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Sthaler announces partnership with CP Plus as Fingopay crowdfunding campaign nears £850,000

 

With just two days to go in its crowdfunding campaign, Sthaler announced its partnership with CP Plus, one of the UK’s leading car park providers, to introduce its Fingopay technology to increase security for ID verification and payment authentication at hospital parking sites.

Sthaler’s Fingopay reader uses Hitachi’s VeinID recognition technology. Infrared light maps the unique 3D pattern of veins inside an individual’s finger. The VeinID technology has been incorporated into existing parking technology and will recognize the driver and their car instantly, allowing access.

CP Plus will roll out the Fingopay-operated parking technology across its NHS customer base and for customers across a range of other sectors including rail, retail and supermarkets. CP Plus are the exclusive license holders of the technology for the parking industry and Sthaler’s finger vein ID technology will enable them to introduce a cashless, card-free system for people to pay for parking and verify their ID at parking sites nationwide.

Fingopay technology has previously been deployed at a Brunel University campus store and at a Copenhagen Business School restaurant and coffee shop.

According to the announcement, finger vein technology is used widely at cash points in Poland, Turkey and Japan and are also used in accessing high-security buildings, for workforce management, verifying identity and authorising high value transactions for banking customers across Northern Europe.

Crowdfunding campaign

Fingopay is set to close its equity crowdfunding campaign on Crowdcube with nearly £850,000 in funding from more than 450 investors. The funding round was launched last month and quickly raised its initial £750,000 target.

Funds from the Crowdcube round will be used to continue Fingopay’s growth and expansion. It is set to close on Wednesday.

The crowd will get the same terms in this round as was offered to the company’s private and institutional investors. They have raised over £5m to date.

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