Biometric payments are a type of payment method that uses an individual’s unique biological characteristics, such as fingerprints, facial recognition, iris scans, or voice recognition, to authenticate and authorize financial transactions. This technology enhances security by ensuring that the payment can only be made by the verified user, reducing the risk of fraud and theft.
Biometric technology brings safer identification and an improvement in the customer experience to the payment sector.
Jean-Philippe Niedergang, CEO of Castles Technology
In Simpler Terms
Imagine you’re at a music festival, carrying only your phone and not wanting to worry about losing your wallet or someone stealing your credit card information. With biometric payments, your smartphone or a wearable device becomes a personal security guard for your finances. Just by looking at your phone or touching a sensor, you can pay for food, merchandise, or any service instantly and securely, as the transaction requires your physical presence and unique biological feature to be completed.
