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[September 25, 2003]
BioPay And Hypercom Solution Offers Fingerprint Payment For DC Retailers
Thousands of consumers at retail outlets throughout suburban Washington, DC will be among the first in the US to have the option of paying for goods and services with a mere touch
of a finger thanks to BioPay LLC's biometric payment service and global payment technology leader Hypercom Corporation's smart, fast and easy-to-use ICE card payment terminals and BioPIN(TM) finger-scanning pads. An initial roll out to nearly two dozen retail locations has just been completed.
With convenience, faster payments, security and identification verification as overriding business goals, BioPay and Hypercom have teamed up to bring to retailers smart, fast and industry-leading technology that can go a long way in lowering merchant payment costs and reducing check fraud and ID theft.
There is an overwhelming demand by retailers to deploy technology that lowers payment costs, eliminates fraud and reduces write-offs, said Tim Robinson, president, BioPay. Businesses need a comfort-level before completing a transaction. Simply put, they want to know they are going to get their money and not have to give up slim profit margins. That is what we are now offering and delivering to retailers with Hypercom.
Here's how it works. A customer presents a blank personal check to the participating merchant, along with their driver's license or other valid ID for scanning. The customer also enters an easy-to-recall 10-digit unique
BioPay number (e.g. a telephone number). At the same time, the customer's two index fingers are scanned on the Hypercom BioPIN finger pad and converted into an algorithmic number. In less than one minute, enrollment is complete.
From that point forward, whenever the consumer wants to pay for a purchase at the participating retailer, they simply enter their BioPay number, place their index finger on the BioPIN biometric finger pad and payment is authorized from
their checking account within ten seconds.
This new technology is fast, easy and convenient for customers. And, it allows me to accept a secure, low cost form of payment which helps increase my bottom line. I like that. Biometric payments are a win-win for both our customers and my business, said Tom Webb, Franchise Owner, General Nutrition Center (GNC).
This is all about bringing new levels of convenience, more payment options and choices and identification verification to merchants and consumers, and that is exactly what we are doing here with BioPay, said O.B. Rawls, IV, president, Hypercom North America.
Smart, Fast, Pace-Setting Technology = Building Profits for Merchants
Businesses worldwide recognize Hypercom as the global payment technology leader that delivers complete, revenue-generating terminal, network and server solutions that help customers increase their profits. Hypercom's smart, fast and easy-use card payment terminals, technology and value-added services deliver innovative and second-to-none performance, speed, reliability and
security that help businesses stay ahead of the competition and grow their profits. The global payment technology leader's feature-rich Visual HyperWare Developer's Toolkit, an open application development environment, and the ICE 5500Plus card payment terminal play a key role.
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