Students at Brunel University in London can pay with nothing more than their fingerprint at their local Costcutter thanks to new fingerprint payment technology.
It’s believed to be the first retail outlet in the world to use Fingopay technology, with 1,000 students receiving £5 credit to get things started.
Store staff member Helen Coker told Retail Express that the system has been up and running for a few days. She said: “It’s going really well. Students love it because it’s such a quick and intuitive way to pay.”
A spokesperson from Costcutter said: “We will be interested to see the results and will decide on next steps at that point." A representative from Fingopay hinted that there may be a further rollout at other Costcutter stores.
Analysts were split on whether fingerprint payments would take off. A survey by payments system firm Paysafe found that 39% thought it was ‘too risky’, while Worldpay, which partners with Fingopay released a separate survey that found 69% of consumers are willing to use fingerprint payments.
Fingopay CEO and founder Nick Dryden said he is confident of the opportunities the technology provides for retailers. “Fingopay offers the convenience sector the opportunity to gain richer data and a faster point of sale service,” he added.
The technology includes a biometric reader that builds a 3D map of the customer’s veins. A quick scan at the counter identifies the user and charges the associated account.
News of the technology grabbed the UK's attention, with TV crews from BBC, Channel 4, ITV and more queuing up to get a look, and coverage in many daily papers.
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