A Swedish startup called Quixter has demonstrated a technology that lets buyers use their hands to make payments. Quixter’s payment technology involves scanning the vein patterns of a person’s palm to verify the person’s identity. Though vein-scanning isn’t new, it’s the first time that a payment system is using the whole palm to do so. To make a payment, the user needs to first enter their ID code and then scan their palm. The scan reads the user’s vein patterns, which is unique to an individual. The user’s purchases are collected in an invoice and paid twice a month through direct debit.
Quixter was started by Fredrik Leifland, an engineering student at Lund University. Leifland wanted to come up with a quicker way to make payments. The system is currently used in 15 places around the Lund University campus, and has approximately 1,600 users. Quixter is convenient for people who don’t want to carry their wallet or money around with them, but even Leifland admits that it takes a lot of work to get retailers and financial institutions to go for the system. The company has plans to expand, but it may be a while before it finds its way outside Sweden.
Check out a demo in the video below.