In a deal reached today between Pay By Touch, a biometrics payment company, and Cognet Systems, an automated fingerprint identification systems
provider, is promising to make biometric shopping a service that you could find at many of the stores you visit in the near future. The two companies
announced a deal to make the process of biometric payment cheaper and easier for merchants to provide. For those who are not so tech-savy, biometric
shopping is a technology where all of your credit card, checking account and store loyalty info is linked to a consumers fingerprint. Uses for this
technology are far reaching, by simply scanning your finger you could pay for products and services, cash checks, view previous purchases, and verify
your identity, all without opening your purse or wallet. This technology when combined with RFID (radio transmiters placed in product packaging) could
provide a time pressed consumer with the ultimate in "speedy checkout". Proponents of this technology point to the possibilities of faster, consumer
friendly, secure payment processing, however this technology is not without controversy. The potential abuses of this technology has been a hot topic
on internet conspiracy related web sites and among privacy groups.
Pay By Touch allows shoppers to safely and securely pay for purchases using a finger scan to access their financial accounts and loyalty programs.
Once enrolled in the Pay By Touch service, consumers scan their finger and select a preferred payment method every time they pay. The one-time Pay By
Touch enrollment is simple and takes just a couple of minutes. Shoppers can enroll online or in store.
"Cogent has a strong record of providing secure biometric solutions for critical government agencies," said John Rogers, founder, chairman and CEO of
Pay By Touch. "With Cogent, as a trusted partner, we are ensuring state-of-the-art security and technology while simultaneously making it more cost
effective for our growing list of customers to deploy Pay By Touch. Based on customer reaction to our jointly developed solution, we expect our
initial order of $5 million to be the first of many over the next 12 months."
"We are very excited about partnering with Pay by Touch to help deliver convenient new payment methods to retailers," commented Ming Hsieh, President
and Chief Executive Officer of Cogent. "Moving forward, we expect there will be new opportunities to deploy Cogent's technology in point-of-sale
applications to enhance consumer convenience and address card fraud and identity theft issues."
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New technologies like Biometrics and RFID (radio frequency identification) are a reality today and the use of these technologies is fast becoming a
part of everyday life. These inventions and thier uses promise major improvements in security and convienence for the consumer, while keeping costs
down and efficiency up for the retailer. There is a down side side to this technology however. Potentiel abuses of biometrics and RFID are frightening
to many. The possibility that a store can keep track of every purchase you make, not to mention when and where it was made provides for alot of
information that could be used improperly by marketing companies and government agencies. A real and honest discussion is needed between corporations,
individuals, and governments to decide what is the proper use of such technologies.
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Pay Bills with your Fingerprint