PayEye 2.0. is a technology that allows modern biometric payments. Together with a new application and an improved eyePOS 2.0 terminal, it enables payment transactions using a fusion of eye and face biometrics. The Wroclaw-based fintech, which has offices in Amsterdam and Dubai, among others, is responsible for developing the technology.
After nearly two years of piloting iris payments, at the end of June the company released a new target service using two independent types of biometrics.
– We have created a full, independent and completely secure PayEye ecosystem, and we are the first in the world to use the fusion of face and eye biometrics in payments, which provides dual security for completed transactions. By the end of the year, we aim to launch several hundred payment devices that will support payments using face and eye biometrics,” comments Daniel Jarząb, CEO of PayEye.
PayEye 2.0. is a technology that currently provides the most secure form of payment processing in the world. The eyePOS terminal is protected against any form of data leakage. Data is transferred only within a closed infrastructure through an encrypted connection. Tokens, an encrypted form of payment card, are used to process payments. Token generation and transaction security is handled by ITCARD, a Polish leader in processing ATM and electronic payment transactions for banks and financial institutions.
Payment processing is very simple. All you need to do is download a dedicated application, create an account, plug in your payment card and configure your biometric profile. Thanks to this, when going shopping or to a restaurant, we no longer need cash, payment card, smartwatch or smartphone. We will complete the payment biometrically.
– We are actively acquiring new users. Over the past month, their number has increased by several tens of percent, and we were able to do this thanks to our presence at Wroclaw events. Participants of the Pasibrzuch Festival and the second birthday of Hala Świebodzki could test our solution and take advantage of attractive discounts. The interest of Wroclaw residents in our idea exceeded our wildest expectations, so we decided to extend the 20% discount on services at Hala Swiebodzki until the end of the month,” says Daniel Jarząb.
Still in July, PayEye will promote itself during Craft Music City, where in addition to guaranteed prizes, it will be possible to win as much as PLN 1,000 in the “Play with PayEye” contest during each day of the event. From July 25 to 31, on the occasion of the opening of the new Solleim foodtruck at Pasibus Dziadzio in Wroclaw, app users will be able to take advantage of a 20% discount at Solleim and Pasibus foodtrucks on Powstańców Śląskich Street. The PayEye discount is combined with a special gastronomic offer prepared by the exhibitors.
– At this moment we are focusing on promoting our solution in Wroclaw. We are from this city and we see great potential in it. Our terminals can also be found in selected catering establishments in the capital of Lower Silesia. By the end of the year we want to launch 400 devices, which will allow us to increase our reach,” Daniel Jarząb concludes.