Chip & PIN? No - Mid Counties Co-op uses Biometrics
With all the major need for strong authentication, true recognition of the user, and discussions about tokens and similar things, this story caught our eye. The question is, "Is this the future?" And we will only start to know when the 16 week trial of Finger Print Payment Processing at the UK's Mid Counties Co-op's Oxford store is complete.
Pay By Touch is an innovative payment service which enables consumers to pay for their purchases using their finger rather than a card, cheque book or cash. The payment service will be available in three Midcounties Co-op supermarkets in and around Oxford.
Bill Laird, COO - Retail, Midcounties Co-op said, "Initial response from our members to this new service has been very encouraging and we are delighted to be the first UK retailer to offer a more secure and convenient way to pay and receive dividend points. Our customers are embracing Pay By Touch because it helps them get through the checkout faster without having to hunt for cards, cheques, wallets or purses."
The Pay By Touch system uses a simple method of finger imaging, making it both secure and highly convenient. The shopper uses a simple finger scan for identification and in doing so, a payment is made directly from his or her bank account, while members' Co-op dividend points are automatically awarded. The initial sign up process is quick and simple and can be completed either at home on the Internet, or in-store. The service is then activated when the consumer visits a participating store. Enrolment in Pay By Touch is free to consumers and it is always free to use.
John Rogers, chairman, founder and CEO of Pay By Touch said, "In the US, over 2.3 million shoppers are already using Pay By Touch to pay, access frequent shopper programmes and cash cheques at over 2,000 retail locations. This reflects the enormous interest consumers have shown in a faster, more convenient and secure way to pay for their shopping."
Tom Fischer, Vice President EMEA, Pay By Touch, commented, "The Midcounties Co-op has a reputation for successfully deploying new technologies that enhance customer convenience. Pay By Touch is already proving popular and we are confident this will continue as the system is more widely adopted."
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