Worldline and PayEye, a biometric payment technology provider, have partnered to develop and launch innovative payment services.
The strategic agreement will look to build on the work done by PayEye, while leveraging functionalities by Worldline to achieve its goal of “revolutionising” the electronic payments market.
In a bid to achieve this, PayEye has created the world’s first biometric eyepos payment terminal, combining iris and facial biometrics. During the initial payment, a real-time code is generated from the user’s biometric data and then compared to the original template throughout the transaction.
Consumers can use the technology by downloading the free PayEye Global app, registering, and linking a payment card for transactions.
Radoslaw Ruda, VP of PayEye, stated: “We are very pleased to be starting cooperation with Worldline, a global leader in payment services.
“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.”
As with the gradual adoption of near-field communication (NFC) technology, the eyepos 3 terminal will also take time to become widely used. In the meantime, it supports various payment methods, including popular NFC and QR code options, as well as traditional card payments.
Artur Żymańczyk, Country Manager at Worldline, commented: “PayEye is known for its innovative approach to biometric payments, while Worldline holds a globally-leading position in payment services.
“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.”
Biometric payments are becoming more common, with several initiatives set up to test the technology. One of these is Mastercard’s biometric checkout programme, which has just expanded into Uruguay with ‘pay with palm’ technology.