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FSC Plans Palm Vein Authentication Payment

Written: 2017-01-05 14:16:20Updated: 2017-01-05 15:26:33

FSC Plans Palm Vein Authentication Payment

The technology of biometric payment is becoming a reality in South Korea.

The Financial Services Commission reported its plan to introduce a biometric payment system in a New Year policy briefing to Acting President Hwang Kyo-ahn on Thursday.
 
Scheduled to be introduced in the first half of this year, the technology identifies a person's palm veins to authenticate a payment at offline stores without the need to use cash or credit cards.
 
The identity of the purchaser is confirmed when their vein patterns match preregistered biometric data.

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