Iris recognition solutions firm IrisGuard has revealed a new point-of-sale terminal that can authenticate payments with customer’s irises.
Described as the world's first retail store payment system that utilizes Iris recognition as the single payment modality for all your purchases, the EyePay was designed specifically to operate with IrisGuard’s end-to-end EyeBank system.
The EyePay POS interfaces directly with existing EFTPOS or cash registers or can operate in stand-alone mode noted the company. Additionally the EyePay POS includes managerial reporting food basket inventory control and accounting capabilities.
The device permits customers to pay for goods by simply looking into the EyePay POS terminal and payments are seamlessly executed in compliance with rigorous international banking standards. “The EyePay terminal employs state-of-the-art hardware encryption algorithms and built-in chipsets to ensure resilient financial transaction in addition to offering a creative immersive and engaging in-store customer experiences to ‘Pay with your Eye’ at checkout counters” said the firm The EyePay was also designed to serve Refugees and Unbanked persons to flawlessly eradicate food vouchers both paper and electronic formats which are currently blatantly traded on the ancillary market.
The EyePay POS also permits unbanked persons to receive remittances, cash benefits and meets the Know Your Customer (KYC) international regulatory banking requirements, ensuring that one's allowance is received only to the intended beneficiary and not a potential "Ghost" recipient. Once registered within the EyeBank solution by a reliable Iris Provider such as United Nations humanitarian agencies, National Government assistance programs using the state-of-the-art EyeCloud infrastructure, millions of recipients can withdraw their allocated cash benefits reliably and at significantly reduced rates. "Money Transfers Agents can increase dramatically their business efficiencies by employing the EyePay for cash payouts and remittances in compliance with stringent regulations while offering cost efficient rates, anywhere, anyplace, anytime. Our sights are wholeheartedly focused on the global retail market with a particular attention to the Middle-East, Africa and the USA markets" Commented Imad Malhas, IrisGuards Founder & CEO.