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By combining technology with science, PayEye has created a whole, independent and secure ecosystem, which consists of proprietary, innovative eyePOS terminals, an electronic wallet for users, algorithms converting the iris into a biometric pattern and in the future, also solutions for e-commerce.

What is PayEye,
and how it works

PayEye is a Polish fintech that introduced the world’s first so secure, convenient and complete payment based on both payment acceptance and user identification using iris biometrics.

PayEye is a natural
r-evolution in payments.

The iris identification is the most effective method of human identification among all biometric methods.

One look is enough

This is another stage in the development of biometric payments, which, due to its reliability and zero false rejection rates, has the potential to replace existing forms of user authentication.

PayEye is the answer to consumer needs and their expectations

The company has brought solutions from the future into everyday life. The direction of biometrics for any industry will soon be natural and for several reasons. The pandemic has made consumers look for a convenient and safe payment system. Similar expectations, if only for the sake of maintaining a sanitary regime, have entrepreneurs, who do not want to expose their own staff to unnecessary additional contact, as well as their customers. On top of that, time can be saved, as the whole transaction process can be clearly accelerated. Biometrics also has the advantage of supporting strong user authentication, and it is already apparent that these solutions can be used much more widely in our everyday lives, in addition to payments, e.g. as a form of access to premises or warehouses, confirmation of contracts, decisions or personal identification.

The innovation of the solution, undiscovered so far in the filed of biometrics, caused PayEye to obtain a huge – nearly 11-million PLN grant from the National Centre for Research and Development for industrial research and development of a biometric payment system based on transactions confirmed by the identification of the user through iris and face biometrics.

History of the development of PayEye
2018
  • We started working on our project
  • We put together a team
2019
  • We created our first biometric algorithm
  • We built our first payment device, eyePOS 1.0 algorithm
  • We created our e-wallet and our control center
  • The Financial Supervision Authority (KNF) granted us a Small Payment Institution licence
2020
  • We received a grant from the NCBiR for 10 702 859,72 zł, POIR.01.01.01-00-1082/19
  • 24.06.2020 launch in Poland, the world’s first commercial eye payment realised in Wrocław
  • Sushi Naka Naka, first outlet with eye payment
  • 100th outlet with eye payment (Snow and Ski, Machnice)
  • First PayEye biometric studyFirst PayEye biometric study
  • PayEye RUN, Charity race
  • We receive another grant from PARP (Go to Brand) of 394 060,00 zł, POIR.03.03.03-02-0005/20
2021
  • We move to our mobile app
  • 150th outlet on the PayEye map (Kino Nowe Horyzonty)
  • Start of preparations for the implementation phase of the new eyePOS 2.0 device and the new application
  • Strategic partnership during the PasiBrzucha Festival
  • Second PayEye biometric study
  • Global launch of our new solution PayEye at Gitex Technology Week in Dubai
2022
  • Office opening in Amsterdam
  • Development work on new eyePOS device features
  • Work on e-payeye implementation
  • Work on PayEye Zone marketing and sales platform
We’re betting on the iris and its uniqueness

Iris recognition is considered to be the most perfect method of biometric identity confirmation. Thanks to the enormous information content and uniqueness of the iris pattern, it is possible to identify individuals without error, even in very large populations. The irises of the left and right eye differ, as do the irises of twins, including monozygotic twins. This makes it possible for the method to be used even in huge projects such as India’s national biometric citizen identity programme, which has so far registered more than 1.4 billion iris pairs. The iris therefore appears to be the ideal biometric identifier for PayEye customers.

History of iris biometric
1936

Frank Burch, an American ophthalmologist, proposes the idea of using the iris of the eye to recognise people.

1949

James Doggarts conducts an analysis of the complexity of the iris pattern and hypothesises its usefulness for the purpose of identifying individuals.

1987

Aran Safir and Leonard Flom, two ophthalmologists patent the concept of recognising the iris based on its uniqueness in the population, building on Burch’s work.

1992

John Daugman, professor of computer science at Cambridge University, is developing the first automatic iris recognition algorithm using so-called IrisCodes at the request and with the help of Safir and Flom.

1994

A US patent is granted for the Daugman method.

2005

Safir and Flom’s patent covering the general concept of iris recognition as a biometric method expires, allowing a number of new entrants into the market.

2011

John Daugman’s patent expires, opening the door even wider for the biometrics market.

2020

PayEye was the world’s first company to implement a commercial biometric payment system based on the identification of the iris of the eye.

Why paying with your eye is so safe

You often hear about unauthorised payments with payment cards. Our eye payment system solves this issue – payment confirmation takes place by identifying the user using the iris biometric pattern on the eyePOS payment device. Neither the eye nor the iris itself can be hacked or stolen. It is also not possible to make a transaction using a photo or mock-up, as our payment device verifies the vitality of the eye during identification.

In order to identify the user and confirm the transaction, it is necessary to compare the biometric pattern of the eye with the basic pattern, i.e. the user’s eyes. In addition, a PIN is required for selected transactions for additional security.

Taking a closer look
Our service also solves the problem of theft in contactless payments. No funds can be used and no unauthorised iris readings can be done from a distance, without user interaction. The required distance from our eyePOS device is approximately 30 cm.
Turning the iris into a code
A Biometric template is created from the iris image in real time (we do not store the image of the iris in our system). It is not possible to reverse the process and obtain the iris image from the biometric template created by us, which we call the PayEye code. The created code is transmitted and stored in a secure IT infrastructure. Once stored, it never leaves it again.
Secure algorithms
We use the most secure data encryption algorithms. The infrastructure is subjected to regular and rigorous security testing. Personal data is processed with the utmost care for its security using the necessary organisational and technical measures in line with Data Regulation Protection, biometrics best practices and standards.
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