Tag Archives: payment

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Soon, Your Heartbeat Could Replace Your Signature

Many companies are developing and implementing payment systems that use fingerprints, eye scans, blood veins, and heartbeats as payment methods. These methods may well replace the traditional, and easily stolen, plastic credit cards that carry your personal information.

Currently, banks are issuing credit cards that have both the magnetic strip of information and a computer chip embedded in them with personal information; But, they are refusing to demand users input a PIN to access their credit. In their opinion,  it is too much of an imposition to force consumers to both sign a receipt and type in a four-number code to ensure their personal information safety.

Biometric Security, is the idea of linking between a person’s unique physical signatures, such as heartbeat or iris prints, to their credit card information. Similar to Apple’s fingerprint scanning technology on the iPhone; The same technology could be used for payment systems.

Bionym has created a device known as Nymi, which has a heartbeat-monitoring armband that can link with a payment terminal to authorize a purchase. The Nymi armband does not even transmit biometric information; instead it confirms a person’s identity through the heartbeat, then encrypts the necessary credit information that can only be read by a payment terminal that reads heartbeats.

Bionym says the Nymi could replace many other items the average consumer carries, such as car keys. The information that can be stored in the Nymi and accessed only through the signature heartbeat is nearly endless.

“You can leave your phone and wallet at home, go for a run, pick up a coffee and snack and return home,” said Bionym president Andrew D’Souza to Mashable.com.

First seen on: http://www.businessinsider.com/

 

Would YOU use your own heart beat to replace your passwords?

 

coincard

Have Many Credit Cards? Start Using COIN

Credit Cards exist for decades and are serving us well for shopping, payment, gift giving and more. It’s time now for the product itself to be upgraded to the 21st century.

Many companies, including Google, PayPal and Amazon, are competing to make the Mobile Wallet, with which we, the consumers, be using daily to make our payments, shopping and more. But, many this small startup will be the one to take Take The Jackpot.

Continue reading Have Many Credit Cards? Start Using COIN

hopon

Taking the Bus? Meet HopOn for Easy Bus Payments

Many people are using public transportation in general and the bus is particular. And though we are in the 21st century, paying for the bus feels kind of old. I mean, it can be much more technologically advanced as well as easier and faster to use.

If you already know GetTaxi (and a likes), you understand the advantages of paying with your phone. The new Israeli startup HopOn wants to become the Get Taxi for the Bus.

Continue reading Taking the Bus? Meet HopOn for Easy Bus Payments