Nordic payments processor Nets has launched a pilot of finger vein payments technology with students and visitors at Copenhagen Business School (CBS) in Denmark.
The new technology has been designed to scan the structure of veins in consumers’ fingers to authenticate payments.
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Nets claims finger vein authentication to be more secure than fingerprint authentication, as the former requires detection of blood circulation for authentication and is hard to replicate.
Moreover, the increased security in case of finger vein payments will phase out the need of using PIN even for high-value transactions, Nets stated.
The new technology will be available to consumers using the Danish domestic card scheme Dankort, who need to link their finger vein patterns to their account.
Users will also be allowed to unlink the finger scanning feature from their Dankort any time if they require.
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By GlobalDataApart from CBS, Nets’ innovation arm Smart Payments also teamed up with Fingopay on the initiative. The finger scanners have been installed in the business school cafeteria’s check-outs.
Dankort sector vice president Jeppe Juul-Andersen said: “Your means of payment may not be made of plastic in the future, as apps and infrastructures which enable consumers to pay using biometric identifiers are developed.
“We are excited to see how card holders find the finger vein payment experience. If they react positively, we will consider launching pilot schemes in other Nordic countries as well.”
