Sweden’s Lund University has launched a vein biometric payment solution for stores and coffee shops around campus.
As reported by TechCrunch, the solution is being developed by Fredrik Leifland, an engineering student at Lund University. Inspiration struck Leifland as he was impatiently waiting in line at the supermarket, which made him wonder if he could pay using biometrics rather than using credit cards.
Leifland began consulting with manufacturers of vein-scanning terminals, banks and stores, and eventually developed a system that worked. There are currently 15 stores and restaurants, primarily around the Lund University campus – as well as 1,600 active users that use the vein scan terminals.
Leifland’s startup, Quixter, has developed a system that uses vein-scanning technology to identify the individual based on the unique vein-pattern in an their palm. The system then deducts payments from the user’s previously linked bank account.
Quixter is working with some of Sweden’s banks to further build out the solution. Quixter’s palm-scanning system enables a user to make a payment without the need of cash or payment cards.
Leifland insists that the system is also incredibly fraud deterrent in that only the user’s unique palm vein pattern will allow payments. Anything short of forcing someone else’s palm onto the reader would make fraudulent charges impossible.
The speed of a Quixter transaction is not noticeably quicker at the moment, as it still requires the user to enter last four digits of their phone number and then put their hand on a terminal to be scanned. It’s not a one-step process just yet.
See Quixter’s palm-vein biometrics solution in action here.