Fintech that was the first in the world to introduce iris payment for commercial use, has been awarded the Polish Intelligent Development Award 2020. The award was presented to PayEye company on Wednesday, 28 April, in Wrocław.
The Polish Intelligent Development Award is a prestigious award in business and scientific circles that popularises, promotes and recognises the authors of technological and social innovations and investments that directly or indirectly raise the standard of living. The fintech from Wrocław, PayEye, has joined this noble group.
“We have introduced a real innovation to the market – eye payment, which to our delight is generating a lot of interest. Additional satisfaction also comes from the award, naturally. This is a credit to the entire, ever-growing PayEye team and our partners and customers. They are the ones who contribute every day to making our presence felt more and more strongly in the market. This award is not only a distinction for us but also a motivation and obligation to work even harder ,” says Krystian Kulczycki, PayEye CEO.
Due to the current coronavirus restrictions, the Polish Intelligent Development Award was presented to the winners in an intimate group. Since 2016, individuals, teams and organisations that carry out promising research, innovative projects, cutting-edge investments to bring them now or in the future to the market to serve society have been honoured.
PayEye is a Polish fintech with a global reach that has developed the world’s first commercial full payment ecosystem based on iris biometrics. The first phase of the project is being piloted in Wrocław and surrounding cities and towns and is available in nearly 130 locations, and the number of points where eye payments can be made is constantly growing. Some of the places that have attracted the most interest, where the eye payment system has recently appeared, include Wrocław’s Aquapark, MPK Wrocław, or AC Hotel by Marriott Wrocław, which operates as part of the world’s largest international hotel chain, Marriott International.
In subsequent stages, the project will be available in major cities and towns in Poland, Europe and the world.
PayEye has been available on the mobile app since 7 April. It allows modern access to the account together with essential features such as secure login, intuitive and user-friendly interface – all available immediately on Android, iOS and Huawei App Gallery platforms.
First of all, the PayEye application provides convenient access to finances in any place and at any time. The new application makes it possible, among other things, to check the payment history or account balance. It also allows quick registration of users who are interested in paying with their eye.The previous registration and verification procedure for new users has been shifted from the existing website to the application. As a result, it is largely automated and reduced to just a few steps. This is based on photos of an identity document and a selfie, and the whole verification process takes about 2-3 minutes. Besides topping up with a traditional transfer, the eye payment account can also be topped up for free with quick payments; P2P transfers are also possible. Furthermore, the new application supports biometric login on the device used by users.
IT experts from the fintech are already working on further versions of the application. They have announced, among other things, features that will enable faster growth of the user base, as well as implementations of e-commerce payments and more convenient account top-ups.
PayEye wants to focus on developing e-commerce with the help of biometrics in the second half of 2021. The advantage – as announced by the fintech – will be, among others, a shorter purchase path.
