Supposedly its impossible to pay with your eyes, yet we have proven that it is indeed possible, whats more, payments with a single glance are not only faster, but also very secure. It is also said that it is impossible to talk about new technology, finances and start-ups with a global reach in a simple way, yet we will attempt to do so in this condensed report, just for you. It is a summary of our work since 2018 on the market with this unique biometric payment system, but also a broader look at the industry and a market which is developing at a dizzying pace. It is also a great opportunity to boast about an innovative idea which we look to implement with the help of the National center for Research and Development. Finally, it’s an attempt to show that innovative ideas and bold plans can be created and implemented in Lower Silesia, Wrocław, Poland, and then taken to the global market. Curious? Enjoy the read.
We are the first fintech, both from Poland and in the world market to commercially implement a payment confirmation system using biometrics – the iris of the eye. We created an entire proprietary ecosystem, which consists of eyePOS 1.0 payment devices, an innovative electronic wallet for users and algorithms processing the iris of the eye into a biometric pattern (PayEye code) used to identify the user during payment. The service was first made available in Wroclaw, but our solution is known both nationally and internationally. It is no coincidence that eye payments were introduced as a pilot in the place we come from – we wanted to give the residents of our city the opportunity to test the service freely in the first place. Thanks to this, media representatives from all over the country also came to Wrocław to test the solution and pay with the eye.
We were the first in the world to conduct a commercial transaction based on iris biometrics
We made it possible to pay with your eyes
We have recruited 2000+ users
Our customers have carried out close to, transactions
We first developed the eyePOS 1.0 payment terminal, which supports biometric payments using the iris, and an electronic wallet where the user could track their account balance as well as their purchase history in a web browser. The first part of the pilot using the eyePOS 1.0 terminal included over 150 points in and around Wrocław, where users, after creating an account and a biometric template, could make payments with their eyes.
In the initial stage of the PayEye 1.0 pilot, registration for the PayEye service could only be performed from the www.payeye.com website – by creating an account, providing your data and making a verification transfer. After registration, it was necessary to fund the account with a traditional transfer and create an iris pattern at one of the PayEye Partners.
On April 7, 2021, we significantly simplified the registration process by introducing the PayEye 1.0 application, which made it even faster and more convenient for users to join the circle of paying with the eye. All you had to do was download the free PayEye 1.0 app to your phone, enter your details and take a photo of your ID card. Before the first payment, it was also necessary to top up the account and create a template, but it took much less time, as the application offered the possibility of topping up the account with BLIK and fast transfer. From the phone, users could check their account balance, transaction details and history, and places where it was possible to pay by eye. The PayEye 1.0 application was made available in the App Store, Google Play and Huawei AppGallery shops.
We understand that the world of new technology, cyber security and innovative solutions can be complicated, so we try to simplify it. We organise webinars, conferences and discussion panels. We participated in dozens of congresses and meetings related to what we do. We also rely on open, proactive communication with the public, and our social media channels, as well as traditional and online media coverage, which have circled almost the entire globe. We do this because we want to make it easy to access information and enjoy encounters with new technology.
Biometrics, as a branch of Information Sciences, is a closely related field to Biology, encompassing a set of methods that allow for the identification or confirmation of a person’s identity using their biological characteristics – by they anatomical features or behavioral traits.
Using expertise from many areas of mathematics and computer science, such as information theories, statistics and image processing, experts are able to create algorithms that can identify an individual amongst a large population with high probability and without error. Nowadays, fast and accurate identity confirmation is crucial for the smooth delivery of many services.
At the same time, we face numerous risks, such as the risk of identity and document theft, having to remember many complicated passwords, PINs or wearing ID badges. Biometrics, whereby our own biological characteristics can be both identifier and password, is becoming the natural answer to these challenges. There is no future for digital services without biometrics.