PayEye and Worldline Partner on Biometric Payments

PayEye, a biometric payment technology provider, has partnered with Worldline to develop and launch innovative payment services.

A key aspect of the partnership is PayEye’s biometric “eyepos” payment terminal, which integrates iris and facial recognition technologies. During the initial transaction, the system creates a real-time code derived from the user’s biometric data. This code is then compared to the original template to verify payments.

“We are very pleased to be starting cooperation with Worldline, a global leader in payment services,” said Radoslaw Ruda, VP of PayEye. “For us, it’s yet another strategic partnership that brings us ever closer to launching a global expansion of our biometric solution, which, exactly like the biometrics most of us use to unlock our phones, will revolutionise the authentication of payments, offering even greater security and convenience for customers.”

Users can access this technology by downloading the free PayEye Global app, registering, and linking a payment card. This setup is designed to streamline the payment process, providing increased security and convenience for consumers.

“PayEye is known for its innovative approach to biometric payments, while Worldline holds a globally-leading position in payment services,” Artur Żymańczyk, Country Manager at Worldline said. “Putting together our potentials will help us go down in history as innovators setting new trends in the global payment markets, from which – thanks to even greater convenience and security in the payment process – our customers stand to benefit the most.”

The “eyepos 3” terminal supports multiple payment options, including NFC, QR codes, and traditional card payments, reflecting the gradual adoption process seen with previous technologies like NFC. The terminal features a 5.5-inch screen, capable of displaying advertisements or shopping lists during transactions, and operates on the Android 11 system, allowing for integrated solutions within a single device.

Biometric payments are becoming increasingly common, with various initiatives testing the technology globally. For example, in May of this year, Visa announced the introduction of passkeys to online payments through its Visa Payment Passkey Service, allowing customers to authorize payments via a biometric scan on their smartphones or computers. The service is built on Visa’s Fast Identity Online (FIDO) server, enabling merchants to integrate it without needing their own servers, with consumers now able to use the same biometric systems for payments that they use to unlock their devices.

Source: The Paypers, Payment Expert

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July 29, 2024 – by Tony Bitzionis