In the era of wide access to the Internet and modern technologies, things tend to change at the pace we have never experienced before. In ancient times our ancestors mainly acquired things with the use of cashless models of transactions – barter. Then people began to trade for salt, mussels, and gems. The first coins are said to be used around two hundred years B.C., and since then we use them to acquire goods. Some of us may also remember cheques that currently are not that widely used by society anymore.
The first mobile transactions were made through text messages, which system, by the way, is widely used in African countries nowadays. Popular payment cards accompany us since the mid-1980s, and probably we could not imagine modern consumption without having one in a wallet, on our mobiles or other electronic devices. Moreover, every couple of years we are offered new ways of card payments using (Polish) BLIK or text messages. The market changes at high speed, offering new innovative solutions to make things even easier and safer. One such solution was born in Wrocław.
PayEye, because that’s how the start-up is called, was an idea of few businessmen from Southern Poland. Thanks to their technology, the customer no longer needs a card, mobile or any code at all. The only thing required to make a transaction is you, and more specifically, your EYE! PayEye has developed an iris biometric system that assigns a unique code to each customer. According to the PayEye CEO Krystian Kulczycki, the iris was the best choice for human identification purposes out of all biometric methods, since it is highly effective and safe. There are no health nor thief concerns regarding the featured method of recognition.
To use PayEye there are few steps to be completed. First, you need to register online using your ID and then create your own personal pattern at one of the PayEye Partners or at home.
The PayEye system is already available in almost 100 locations in Wrocław and its environs. You can use the iris to pay in restaurants, bars, cafes, hotels, gas stations and more.
PayEye is officially accepted way of cashless payment. The start-up uses self-developed POS terminals as well as an authorial set of algorithms that process the image into a unique payeye code. Polish businessmen claim to be the world pioneers in developing and releasing the payment system based on biometric technology. For sure that’s something we can be proud of. The question, however, is whether this could possibly replace current systems domestically and finally internationally.
Sources:
https://spidersweb.pl/bizblog/payeye-polski-startup-platnosci/