German payments firm Wirecard has launched a smart payment terminal that will enable customers to make payments by scanning their palm.

The scanner authenticates customers after they place their palms on it.

The digital Wirecard Financial Commerce Platform then enables a real-time payment.

The new payment method is expected to eventually replace traditional cash registers.

According to Wirecard, the new terminal is ideal for the retail sector, public transport or airports, as well as various events.

Wirecard Labs executive vice president Jörn Leogrande said: “At Wirecard, we strongly believe that biometrics will follow smartphones as a major means of payment and replace passwords in the future.

“With the new palm scanner, the advantages for consumers are clear. The scanner is fast, simple and extremely secure due to the uniqueness of everyone’s palm.”

Wirecard is not new to biometrics.

Last year, the firm introduced its IoT shelf powered by facial recognition technology.

In this context, Wirecard cited a study by Oxford University and Mastercard.

The study found 93% of consumers favouring biometrics over passwords for payment validation.

Earlier this year, Wirecard teamed up with Oney Bank to facilitate biometric payments in Romania.

The partnership enabled the deployment of the app in Romania that enables one to pay using fingerprint authentication or QR code.