April 21, 2004


More Consumers Buying Into Biometrics

April 21, 2004

HERNDON, VA -- More consumers are letting their fingers do the paying as they opt to use biometric payment systems.

According to BioPay, LLC, more than a million consumers have now enrolled in BioPay's electronic biometric identification systems to pay for purchases and cash payroll checks. BioPay systems' have completed nearly 7.5 million transactions worth $3 billion dollars.

"We have clearly shown that biometrics have become widely accepted for payments and check cashing," said Tim Robinson, president of BioPay, a manufacturer of biometric-payment and check-cashing systems. "As a result, we are building on the success and momentum by expanding our technology to include other biometric applications, like prepaid accounts, for instance."

Earlier this month the millionth consumer was enrolled in BioPay at the Sterling Amoco gas station in Northern Virginia. The franchise has been using BioPay's biometric payment service since last year.

"Customers like the convenience of paying for gas, snacks and sandwiches simply by scanning their finger," said Rich Gladu, owner of Sterling Amoco. "Cash transactions are quickly becoming a thing of the past."

BioPay said that convenience is one of the key drivers behind biometrics growing popularity. With biometrics, consumers do not need ID, cash, credit or debit cards to make a purchase, said the company, adding that a consumer simply needs to put his finger on the electronic scanner to verify his identity, make a payment or confirm his check-cashing history.

The company said that retailers can use BioPay's biometric technology to reduce bad checks and payment costs. Using Paycheck Secure, merchants can confirm a person's check-cashing history before a transaction is completed. If negative information is noted, the transaction can be cancelled.

NACS Daily previously reported that biometrics is a growing trend in the industry. In fact, the West Seattle Thriftway, which uses the "pay-by-touch" biometric payment system marketed by Indivos, was featured in NACS' 2002 "Ideas to Go!" videotape.

The latest technology innovations will be exhibited at NACStech 2004, taking place May 17-19 in Grapevine, Texas. Click here for more information or to register.

More Consumers Buying Into Biometrics | NACS Daily

Posted by Craig at April 21, 2004 03:51 PM