Imagine going to a store without your wallet, purse, credit card, or cash and yet still paying for goods. Thanks to a relatively new system called PayTouch, consumers will be able to make purchases with their fingerprints.
Of course, in order to pay through the system both you and the business need to be using the PayTouch components. If you and the business are PayTouch ready, then all you have to do in order to checkout is place two fingers on a unique terminal.
To sign up with the service, consumers have to go to a participating business and register fingerprints at a PayTouch Enrollment station. The fingerprints will then be linked to a credit or debit card, which is automatically credited when a purchase is made.
Apparently, the payment process takes a maximum of five seconds to complete and the user doesn’t have to remember any passwords, or sign additional signatures. Essentially, all you will ever need is the two fingers you enrolled to the service with. There’s no mention about what happens if you lose the enrolled fingers, though.
PayTouch is free to use with no additional fees or commissions. This is definitely welcome, as other services like Paypal collect quite a hefty transaction fee. PayTouch earns money by collecting a commission for each purchase, which is obviously charged to the retailer.
I’ve included a video below that shows of the PayTouch system in action. Pretty cool, no?