Uniqul, a technology start-up from Finland, has launched a tablet-based facial recognition payment platform, making it the first of its kind anywhere in the world.
The company, who claim that their patent pending technology is protected by what they call “military grade algorithms”, have already started taking registrations by customers, ahead of the introduction of their terminals in Helsinki which is set to take place shortly.
Uniqul’s facial recognition will allow consumers to pay for shopping or services once they have registered with the firm simply by standing in front of the terminal,
The Washington Post published an article recently after looking into credit card fraud and the trade of stolen card numbers online, finding that stolen European credit cards are five times more valuable than those from the US – with European card details going for around $50 USD each, and US ones closer to just $10 USD.
Why is this the case, and why are European cards more sought after by fraudsters? Well, the first reason is oversupply of US card details.
Visa Inc. And MasterCard have announced an agreement to license their respective common US debit solutions to each other in a collaboration that is designed to best streamline US chip debit transactions through a number of unaffiliated networks.
Chris McWilton, president for the North America region at MasterCard said of the move that "This represents our continued commitment to advance the adoption of the most advanced payment solutions and security standards in order to deliver maximum value to merchants,