e-Identity is one of the biggest problems in today’s digital world, both locally and globally, but if companies can come up with effective solutions they open up whole new market niches localy and globally.

Local market

The Costcutter store, at Brunel University in London, is installing a biometric identification system that allows customers to pay using their ‘fingerprint’ to identify themselves. Sthaler - the biometric system supplier - and the payment processor Worldpay are using Fingopay, an infrared device that scans people’s finger veins and then links the pattern to their bank accounts. Sthaler claim that this is the latest development in identification at the point of sale:

Source & Copyright©2017 - Sthaler

(The Fingopay [the device used to scan fingerprints] checks for a pulse as well as for haemoglobin. The vein pattern is then kept on a database in an encrypted form, as binary numbers. Worldpay stores the card details similarly to how shoppers buy online.)

The account details are stored with payment provider Worldpay and returning shoppers will be able to make payments by simply using their fingers. 

This opens up a new market for completely secure and fast transactions at the point of sale where the account holder does not need to carry any card or identification (other than their finger).

Global e-signing

Bloomberg have been using fingerprint identification for many years. Bloomberg designed, developed and deployed two exclusive and complementary strong authentication tools:

• a finger image sensor on the Bloomberg keyboard, introduced in 2004, which analyzes points on a finger image. (Today, the Bloomberg keyboard is used by more than 90 percent of Bloomberg subscribers.)
• The B-Unit, a portable, credit-card sized device that also provides authentication by analyzing points on a finger image, was designed for subscribers to access the Bloomberg Professional service from almost any Internet-connect computer, smartphone or tablet device. (They call this service “Bloomberg Anywhere.”)
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  • Source & Copyright©2017 - Bloomberg 

Using their enormous experience with fingerprint recognition in all regions and in all sorts of conditions, it is not surprising that Bloomberg are using this system for e-signing contracts. Bloomberg clients and users are able to sign and fully authorise contracts with no concerns and just enjoy the speed of contract completion. 

Bloomberg’s depth of experience and global reach will open up new markets too.

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CTMfile take: Secure biometric authentication that is fully accepted will transform how we do business today