Students in school can soon leave behind their cash, cards, wearables or smart wallets and simply use just two fingers to pay. Coolpay introduces the world’s first Biometric payment system for local schools. Partnered with POSB, NETS, STYL and 3Radical as part of the POSB Smart Buddy programme, the device known as Touché will introduce secure payment gateways safe enough for school environments.
They can start using this service by registering their fingerprints once on a Touché device, and link them through the POSB Smart Buddy programme to their parents’ account. The service also allows parents to monitor or limit their children’s spending habits.
” Our partnership with POSB Smart Buddy to demonstrate how the world’s first biometric payment solution can be suitable for school children is an exciting development – it is in line with our Prime Minister’s focus on making Singapore a Smart Nation” said Mr. Sahba Saint-Claire, CEO of Coolpay. “At Touché, we are incredibly proud of our ‘Made in Singapore’ stamp; and hence, it is just fitting that we have an opportunity to bring the convenience of biometric payments to our Singaporean school kids as early as Q1 2018.”
Payment is made through an FBI-Certified rectangular biometric device that’s arguably more secure than the ones used in Changi Airport. For starters, it requires two fingerprints to authenticate instead of one, and can read up to 45 unique points from each finger. All data is encrypted and no biometric information is stored in the device itself. Touché had also spoof-proofed the devices to ensure that the payee is using real fingerprints in person and not a fake one like in Hollywood movies.
What do you think? Will you prefer biometric payment over traditional means? Share thought in the comments section below!