On the second week of July 2013 Finnish company Uniqul launched a revolutionary product that is radically poised to alter the way people shop at stores.
Until now cashless transactions have been usually performed by chip based or magnetic strip enabled credit cards. While credit cards are quite safe and easy to carry around they do come with quite a few hassles. On account of their small size, they are quite easy to lose. The potential financial losses a person can incur due to a misplaced a credit card can be quite significant. On the other hand, some people are put off by the fact that they have to memorize cumbersome security codes linked to their credit cards.
Uniqul aims to ease all these woes of shoppers around the world with its unique “pay-by-face authentication system”. In this system, the face of the person acts as a credit card. All a person needs to do is just present his / her face at the checkout counter of a store where the Uniqul designed scanner authenticates the credentials of shoppers based on the biometric data gleaned from a person's unique facial profile. Once the biometric data of shoppers is verified, the amount is then automatically deducted from their linked bank accounts. The technology takes advantage of the fact that each and every person in this world possesses a unique facial profile. It has been scientifically proven that just like finger prints, a person's facial profile provides a unique identification marker. Modern computers are pretty efficient at differentiating between millions of facial features.
However it must be noted that the Uniqul designed system is still at a trial phase and is a long way off from being commercially implemented owing to concerns like financial feasibility and ethical issues. Many people harbor deep reservations about entrusting their confidential biometric data with private corporations and this fact is set to ensure that the system won’t be rolled out anytime soon in global supermarkets.
Rival security firms of the likes of Diebold are also trying to develop similar technological applications like "Millennial ATM" that aim to leverage the power of face recognition techniques.