This startup wants you to pay at stores using just your fingerprints

Photo credit: Touché says that security is at the forefront of what it does.

It’s ambitious, but also rife with potential pitfalls. But it’s what Singapore-based Touché wants to accomplish.

The startup makes a device that lets merchants receive payments and gather information about their customers through their fingerprints. It works like this: the first time you visit a merchant, you can pay with your credit card and use the device to link the card to your unique, fleshy signature.

The device scans your fore and middle fingers and connects them to your profile. The next time you visit that store, you can make a purchase by touching your fingers to the machine to authorize payment. It can also record information like your purchase history at that particular outlet and loyalty memberships.

Sense of security

This raises concerns right off the bat. Our fingerprints are part of what’s called biometric data; unique natural characteristics that can be used to identify us, like irises and voice. It’s some of our most sensitive private data. We’ve only just started trusting Apple and Google with our fingerprints. Is a startup the best custodian for them?

Touché CEO Sahba Saint-Claire tells Tech in Asia that security is at the forefront of what the company does. The fingerprints are hashed and encrypted when stored and they are not shared with anyone. Merchants only have access to their customers’ membership and purchase information.

Touché’s technology uses two fingers to record prints, which makes it tougher to duplicate. The company uses live detection to make sure that only your actual fingers can trigger the machine, not an image of them.

“Nothing leaves the device without being encrypted,” Sahba says.

Paying at a store using Touché’s device. Photo credit: Touché

A new way to pay

The startup gives the devices to merchants for free and does not take any percentage from transactions. Instead, it charges a monthly subscription for the use of its system. It does have a one-time installation fee for larger clients, although the company doesn’t share details on that.

The main draw for stores is the ability to handle payment and loyalty information through a single system. They will also be able to know about a customer’s previous purchases and spending habits at their business.

For customers, it might be a tougher sell since they are the ones who have to part with their data and trust that it will be handled securely. In return, according to Sahba, they get to stop worrying about carrying credit and loyalty cards, or about their phones running out of battery.

They also have access to an “e-journal”, which contains things like their purchases, expenditures, and real-time offers from businesses they frequent or are members in.

Stocking up