Swedish city introduces payment by hand scanning

Image
AFP Stockholm
Last Updated : Apr 14 2014 | 10:16 PM IST
Hand scanning has become an alternative payment method for people in a city in southern Sweden, researchers at Lund University said today.
Vein scanning terminals have been installed in 15 shops and restaurants in Lund thanks to an engineering student who came up with the idea two years ago while waiting in line to pay.
Some 1,600 people have signed up already for the system, which its creator says is not only faster but also safer than traditional payment methods.
"Every individual's vein pattern is completely unique, so there really is no way of committing fraud with this system," researcher Fredrik Leifland said in a statement.
"You always need your hand scanned for a payment to go through."
While vein scanning technology existed previously, it has not been used as a form of payment before.
"We had to connect all the players ourselves, which was quite complex: the vein scanning terminals, the banks, the stores and the customers," Leifland added.
The creators have plans to further expand the business and other companies around the world are already starting to implement the new payment method.
To sign up users have to visit a shop or restaurant with a terminal, where they scan their palm three times and enter their social security and telephone numbers.
A text message is then sent to their mobile phone with an activation link to a website, with payments taken directly from customers bank accounts twice a month.
*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 14 2014 | 10:16 PM IST

Next Story