Security is big business – especially in the financial world.
You hear so many stories about Identity Theft. I’ve known several people that have had their identity ripped off, and it is a devastating and time-consuming event to recover from.
A start-up company in Finland called Uniqul has an answer to this, at least for credit card fraud in stores.
They have developed technology that uses your face as your PIN!
Very soon, if you are at a store in Helsinki, you will just point your face toward the camera. Your ID will then pop up and you just click OK to confirm that you want to buy your items.
No card, no wallet, no phone.
[box type=”info” align=”aligncenter” ]Facial recognition, just like on the TV shows and movies!! The Finnish company says that their technology uses military grade algorithms to perform the tasks.[/box]
The charges for the technology will be different than in the past, where the merchant absorbs the fees. Customer who what the security and convenience of facial recognition will pay various monthly fees depending on how wide they want the service to be delivered.
There will be a different fee for only a small radius from their homes, while throughout the city and surrounding area will be more.
Paypal will be connected to the system as well as all the major credit cards. Paypal has also started a research project to test the feasibility of making this type of payment on the internet – it will be interesting to keep an eye on where that goes!
Read more about this story at Uniqul Launches First-Of-A-Kind Face Recognition Payment System.
And if you are interested in finding out more about this company go to http://uniqul.com/.