PopID biometric payment platform now used by over 100 brands
Biometric payment systems provider PopID has recently announced its PopPay solution is now being used by over 100 different restaurant and retail brands on college campuses throughout Southern California.
According to the firm, the fast growth in adoption has been spurred by the success of PopEntry, a biometric access control system the firm deployed in student housing facilities.
“Students first enroll for the PopID service in order to get into their housing facilities without needing a key card,” explained Yale Goldberg, COO of PopID.
Once those students learned that they could use the same service to purchase food and other goods without having to pay on the day of the purchase, they started seeing PopPay facial recognition as a more convenient and financially flexible way to pay.
“Students that use the service repeatedly are floated larger amounts of capital, helping them to better manage their cash flow and avoid overdraft fees on their debit cards,” Goldberg added.
Given the success of these pilot biometrics projects, PopID said it will now step up its deployment of PopEntry and PopPay across the country over the next 18 months, fueled by an additional $10 million in funding raised in a Series B round.
The funding round, which PopID revealed was closed earlier this summer, included contributions from Cali Group, The Wasserstrom Company, and Softbank subsidiary Japan Computer Vision.
“The PopID system is incredibly easy to enroll in and makes face-based transactions for building entry and payment faster and more convenient,” said Andrew Schwabecher, CEO of Japan Computer Vision Corp, who invested in PopID earlier this year.
“We are excited about the future and the opportunity to expand the system internationally.”