Fingerprint Payment System Gets Financing 179
prostoalex writes to tell us Yahoo! News is reporting that Pay By Touch, an electronic payments startup that connects your fingerprint to your wallet, has received an additional $130 million in financing to move forward with their biometric payment system.
Oh, great. (Score:5, Insightful)
Isn't technology wonderful???
Re:Oh, great. (Score:1, Insightful)
Biometrics is a technology we can do without.
Seriously... (Score:3, Insightful)
Biometric is not secure (Score:0, Insightful)
Biometric security can be sniffed with a network sniffer and reproduced by the person with the sniffer. In short, biometrics is no more secure than a four letter password.
Am I missing something? (Score:4, Insightful)
Unreliable (Score:5, Insightful)
Copy-proof? (Score:5, Insightful)
The information in credit card magnetic strips can be copied, but the person copying the credit card must at least have physical access (even if only temporarily) to the card in order to make a copy. Using fingerprints, however, is like writing down your PIN on everything you've touched...
No way (Score:5, Insightful)
MOD PARENT UP! (Score:5, Insightful)
sheesh! With credit cards at least someone had to steal it first! But now it only takes some scotch tape to do the job. What are those morons thinking?
Re:MOD PARENT UP! (Score:4, Insightful)
Add me to the Mod Parent Up® petition. Thoughtful of both of you (parent and GP).
More and more it feels like a shortcut for corporations to find targets for what I call PPA1.
1 Professional Personal Annoyance, or "targeted advertising"
Re:Am I missing something? (Score:5, Insightful)
The system is much cheaper for stores than credit cards. 60 cents Visa gets is more than ~15 cents Pay by Touch + check costs
I see these every time I go to the grocery store. I always wonder: what's the benefit to me? What do I care if the store saves 45 cents?
Retinal Scanner (Score:5, Insightful)
Dan East
Just one more token... (Score:2, Insightful)
Anyone think this idea, of combining fingerprints with a physical token, have any merit? Naturally this system could still be forged or broken, but would it be more or less hard to break than the current system of cards and signature/PINs? I think we all have to recognize that, if a perpetrator specifically targets you, it won't be too difficult for them to nail you, but what about more casual and random defrauders?
Trusted Metrics (Score:2, Insightful)
Re:Unreliable (Score:3, Insightful)
That strike me as 1) an easy secret to steal 2) difficult technology to implement 3) pretty likely to yield false positives, either by misreading or by user error 4) way harder than just using a credit card.
Sorry, I think I'm actually talking about the whole system here. Carry on
One Small Problem (Score:3, Insightful)