PayEye & Worldline Merge: Transforming Payments via Biometrics Revolution
Published Date: 29/07/2024
PayEye's biometric 'eyepos' payment terminal integrates iris and facial recognition technologies, promising a secure and convenient payment experience.
"The payment technology landscape is about to witness a significant shift with the partnership between PayEye and Worldline. This collaboration aims to develop and launch innovative payment services that prioritize security and convenience. At the heart of this partnership is PayEye's biometric 'eyepos' payment terminal, which seamlessly integrates iris and facial recognition technologies.
During an initial transaction, the system generates a real-time code derived from the user's biometric data. This code is then compared to the original template to verify payments, ensuring a secure and efficient process. The 'eyepos 3' terminal supports multiple payment options, including NFC, QR codes, and traditional card payments, catering to the gradual adoption process seen with previous technologies like NFC.
The terminal features a 5.5-inch screen, capable of displaying advertisements or shopping lists during transactions, and operates on the Android 11 system, allowing for integrated solutions within a single device. To access this technology, users can simply download the free PayEye Global app, register, and link a payment card.
Radoslaw Ruda, VP of PayEye, expressed his enthusiasm about the partnership, stating, 'We are very pleased to be starting cooperation with Worldline, a global leader in payment services. This strategic partnership brings us closer to launching a global expansion of our biometric solution, which will revolutionize the authentication of payments, offering even greater security and convenience for customers.'
Artur Żymańczyk, Country Manager at Worldline, echoed Ruda's sentiments, highlighting the potential of their collaboration. '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.'
The increasing adoption of biometric payments is evident, with various initiatives testing the technology globally. For instance, Visa recently introduced passkeys to online payments through its Visa Payment Passkey Service, enabling customers to authorize payments via a biometric scan on their smartphones or computers.
Information
PayEye is a biometric payment technology provider that aims to revolutionize the authentication of payments. The company's innovative approach has led to the development of its biometric 'eyepos' payment terminal, which integrates iris and facial recognition technologies.
Worldline is a global leader in payment services, providing innovative solutions to the financial industry. With its globally-leading position, Worldline has become a trusted partner for businesses looking to stay ahead in the rapidly evolving payment landscape.
Worldline is a global leader in payment services, providing innovative solutions to the financial industry. With its globally-leading position, Worldline has become a trusted partner for businesses looking to stay ahead in the rapidly evolving payment landscape.
PayEye is a biometric payment technology provider that aims to revolutionize the authentication of payments. The company's innovative approach has led to the development of its biometric 'eyepos' payment terminal, which integrates iris and facial recognition technologies."
FAQs:
"Q: What is the 'eyepos' payment terminal?
A: The 'eyepos' payment terminal is a biometric payment terminal developed by PayEye, which integrates iris and facial recognition technologies to authenticate payments.
Q: How does the 'eyepos' payment terminal work?
A: During an initial transaction, the system generates a real-time code derived from the user's biometric data. This code is then compared to the original template to verify payments.
Q: What are the benefits of biometric payments?
A: Biometric payments offer increased security and convenience for customers, providing a seamless payment experience.
Q: What is the PayEye Global app?
A: The PayEye Global app is a free app that allows users to access PayEye's biometric payment technology, enabling them to link a payment card and make secure payments.
Q: What is the future of biometric payments?
A: The increasing adoption of biometric payments is evident, with various initiatives testing the technology globally. Biometric payments are expected to revolutionize the authentication of payments, offering greater security and convenience for customers."
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