View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. Dashboards
  2. Deals
July 16, 2013updated 04 Apr 2017 4:11pm

Uniqul develops face payment system

Finnish company Uniqul has developed a facial recognition payment system that it claims is the first in the world.

By Imogen Rayfield

Finnish company Uniqul has developed a facial recognition payment system that it claims is the first in the world.

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

The system uses military-grade algorithms to identify and process a customer’s biometrical data as they approach the checkout.

Transactions are carried out using a credit card linked to the customers Uniqul account. Customers then confirm the payment by pressing an ‘Ok’ button on a tablet.

Uniqul claims the system will reduce the transaction time in stores from the average of 30 seconds to less than five seconds.

A monthly subscription fee has been set up that will vary depending on where customers want to use the system. Users will have to pay €0.99 ($1.30) to use the system at retailers within a 1-2km radius, €1.99 ($2.60) to use in a city, €2.99 ($4) to use in nearby suburbs and a city, and €6.99 ($9) to use worldwide.

Uniqul are currently finalising the product with plans to deploy it first in Helsinki.

Related Articles

Biometrics-based bank accounts to be launched in India

UniCredit brings in biometric payments

Wacom set to embark on the UK market

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International