Will That Be Cash, Charge or Fingerprint?
A midwestern supermarket chain will serve as the test case for a new form of payment that doesn’t require a single piece of plastic or shred of cash. A customer need only press his or her finger to a scanner to initiate a transaction. Hy-Vee stores in Illinois and Iowa will partake in a pilot program with Pay By Touch that withdraws cash from a customer’s bank account based on a scan of their fingerprint. After spending a few minutes going through a one-time enrollment, consumers can use Pay By Touch in any participating store. During finger-initiated transactions, account numbers and payment methods remain invisible. The biometric aspect of the transaction aims to prevent fraud, identity theft or the theft of a card or cash.
David Thomas, CEO at Evident, is an accomplished cybersecurity entrepreneur. He has a history of introducing innovative technologies, establishing them in the market, and driving growth – with each early-stage company emerging as the market leader.