Biometric payment is a point of sale (POS) technology that uses biometric authentication to identify the user and authorize the deduction of funds from a bank account. Fingerprint payment, based on finger scanning, is the most common biometric payment method.
In April, RBS made a biometric bank card that allowed customers to verify a purchase using their fingerprint and now the next cutting-edge technology is used on fob to use biometric finger print technology on it. The three-month trial has begun today with 250 customers.
The £30 limit on the biometric card was the beginning of the technology of biometric fingerprint however in the fob the consumer can make contactless payments using fingerprint verification for transactions up to £100. It has a simplistic design with a standard keyring and a small fingerprint reader.
Fob can be used with the existing POS machines and no additional hardware needs to be installed.
RBS said that customers can enroll for the scheme in less than five minutes, with registration available from their mobile device.
If the fob is lost, it can be blocked through a mobile app. The biometric data is never shared with the merchant or the bank and is encrypted on the device.