People have long been looking for better ways to make payments. Better means more comfortable, simpler, faster and safer. For a long time, only coins and notes were used. This quite simple solution has its advantages, but it also has its disadvantages. From small, everyday ones – sometimes there are problems with getting the change out, you can just not have cash on you, to the serious ones – material money is susceptible to counterfeiting and can also be stolen. The next step in the development of payments – payment cards – eliminates some of these problems. The card is smaller, you just have to carry a small piece of plastic (you can still forget it, though), problems with the change are dropped, and a PIN protects our money. If this were to go one step further and develop a method devoid of all these disadvantages, leaving only their advantages? The search is ongoing, and most of them are proposals based on biometrics.
Biometric methods enable the identification of the customer on the basis of their individual characteristics. This way, we retain all the advantages of a payment card and eliminate its disadvantages. In the case of biometric payments, we always carry our “wallet” with us – you can’t forget it – and payment is even faster and simpler.
Personal features that can potentially be used to authenticate payments include fingerprint, its vascular features, face oval, ear shape, iris of the eye.
What criteria are taken into account when choosing the best biometric solution?
- method effectiveness
- the invariability of a given feature in time
- easy to read features by an appropriate device
- security of data acquisition and data retention
- health security of the identification process
The efficiency of the biometric method is measured using two measures. The first is the FAR (false acceptance rate), which determines the probability that the system will wrongly grant access to an unauthorized user; the second is the FRR (false rejection ratio), which determines the probability of an error in denying access to an authorized user.
Effectively means safely
Such an understanding of effectiveness is strongly linked to the security of the use of a specific biometric method in the payment process. In the case of a false rejection where the system does not grant the customer access to their funds, the result is likely to be frustration (resulting from the inability to purchase a good or use a service). False acceptance is much more dangerous if an unauthorized person gains access to another customer’s wallet.
In order to ensure the highest degree of efficiency, the selected biometric feature should be distinguished by its absolute uniqueness. The iris of the eye meets this condition.
An iris, if you look at it very carefully, consists of many different elements – circles, waves, zigzags or “tassels”, which in each person are arranged uniquely and differ in their arrangement, shape and size.
The iris of the eye turns out to be the best choice of biometric method in terms of security of data retention and purchasing process.
The basis of PayEye’s innovative solution is precisely the unique features of the iris of the eye, and it is an element that identifies the user and confirms payment.
The process of encoding and recording the iris image is fast and safe for the user. The corresponding POS device “photographs” the eye, and the software extracts the iris. Then those elements of the image that are used for user verification are digitally encoded and saved in a highly secure database that they never leave. Because we do not store eye images, there is no risk of them being stolen, and our sensitive personal data – throughout the process – remains safe.
Safe for the eye
The devices used in the payment confirmation process biometric verifying the iris of the eye illuminate the eye using infrared radiation meeting the most stringent criteria and standards. The international standard for devices emitting infrared light (IEC 60825-1) groups these devices into three classes. Only class 1 devices are safe for the eyes. Those used to identify the person making the payment using the iris meet all required standards. Do you want to use it? Check out. Sign up and enjoy your life!