US-based connected commerce platform Verifone has joined hands with biometric software company PopID to offer biometric payment solutions that aim to enhance the security of payments and loyalty transactions.
This collaboration will involve the development of biometric modules that allow both Verifone and third-party payment terminals to accept face and palm authentication.
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The goal is to incorporate these biometric modules into Verifone’s latest payment terminal range, Verifone Victa, as well as enable them for existing devices.
Verifone’s intends to build an open and interoperable biometric payments solution, facilitating biometric-authenticated transactions across consumer platforms, digital wallets, merchants, acquirers, networks, and issuers within the current payments infrastructure.
The company’s new solution will capitalise on its global assets, which include 45 million devices—15 million of which run 200 proprietary payment applications through its cloud-based device management platform.
The reach extends to integrations with 2,500 electronic cash registers (ECRs) and point-of-sale systems (POSs), over 150 payment processors, and compatibility with more than 40 global, local, and alternative payment methods.
PopID CEO John Miller said: “With millions of new and existing payment devices in the United States and globally, Verifone is key to driving global acceptance of biometric transactions. Verifone’s decision to enter and lead the biometrics identity and payments race represents an important milestone in the growth and continued usage of biometrics.”
Verifone CEO Himanshu Patel stated: “We believe that widespread acceptance of biometric loyalty and payments provides profound benefits to consumers, merchants and issuers. Consumers will enjoy faster, more secure checkout and seamless access to loyalty programmes.
“Merchants benefit from increased speed, security, customer satisfaction and retention. Our joint biometrics solution with PopID exemplifies Verifone’s commitment to reducing complexities in commerce while improving consumer experiences at physical or digital points of sale”.
Last month, Verifone integrated its ecosystem with commerce technology firm FreedomPay.
This integration allows businesses using FreedomPay’s global payment orchestration platform to improve operational efficiency leveraging Verifone’s payment devices.
