Pay By Touch goes online for home payments

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By: Wise Marketer Staff |

Posted on February 15, 2006

Pay By Touch goes online for home payments

The biometric payments and authentication firm Pay By Touch has launched its new 'Pay By Touch Online' payment and identification service that gives consumers a fast and secure way to identify themselves and make purchases on the internet.

The Pay By Touch Online service is based on Pay By Touch's patented biometric technology. Pay By Touch Online gives consumers three distinct services:

  1. Express Sign-In Express Sign-In allows consumers to log onto web sites they commonly use with a simple finger scan. The consumer simply slides a finger across a scanner that's fitted to their computer. If a positive identification is made, the web site instantly signs the consumer in without requiring them to remember, type or transmit their username and password (which also removes much of the risk associated with spyware such as key-logging software, used by criminals to eavesdrop log-in details).  
  2. Multi-factor Authentication The Federal Financial Institutions Examination Council (FFIEC) has released guidelines requiring financial institutions to augment user ID's and passwords with multifactor authentication to improve web site security by the end of 2006. Pay By Touch Online allows companies to implement these guidelines by adding finger scanning to current password systems. The system adds all three factors of authentication: "something the user has" - the unique scanner, "something the user knows" - a password, and "something the user is" - the finger image.  
  3. Express Checkout Express Checkout allows consumers to quickly and securely pay for purchases on web sites through a single finger scan. As with Express Sign-in, the consumer slides a finger across the scanner to complete their online transaction. When a positive identification is made, the system accesses the shopper's Pay By Touch wallet, which contains the user's existing payment information (e.g. credit card, signature debit card, or Pay By Touch eChecks), as well as their usual shipping information and loyalty programme account information. Once a payment method is chosen, Pay By Touch and the online store securely complete the transaction. Again, this helps security because no card details or sensitive financial information need to be transmitted at the time of the transaction.

Certified sensors To ensure that Pay By Touch's high security standards are met, all sensors used - whether built into computers or inserted via a USB port - must be certified. During 2006, Pay By Touch expects to certify millions of built-in and stand-alone sensor devices.

Pay By Touch says it is currently in negotiations with several internet retailers and financial institutions across the USA, and plans to begin deployment of Pay By Touch Online in Spring 2006.

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