Pay By Touch, the global leader in integrated biometric authentication, personalized marketing and payment solutions, today announced that Citibank Singapore has rolled out Pay By Touch’s biometric payment services to its Citibank Clear Platinum cardholders. Effective today, cardholders are invited to enroll in the biometric credit card service, and pay for goods and services with the touch of a finger.

“Today’s launch of our new biometric payment service in partnership with Pay By Touch gives our cardholders a whole new level of empowerment, marking a major milestone not just for Citibank but also for the card industry,” said Jonathan Larsen, CEO and Country Business Manager, Citibank Singapore Ltd. “With the credit card becoming very much a part of our daily lives, consumers want greater flexibility in making payments. We are proud to bring the world’s first cardless biometric payment service to Singapore. This is the ultimate in convenience — the ability to make credit card transactions with just a finger scan.”

“The biometric credit card service from Citibank and Pay By Touch sets a new standard for speed, convenience and security,” said John Rogers, founder, Chairman and CEO, Pay By Touch. “Together, we have eliminated the need for cardholders to present their credit cards when paying for purchases. Instead, they simply press their finger to a biometric scanner and, in seconds, their transaction is complete.”

The new biometric payment service is available to Citibank Singapore’s Clear Platinum cardholders as part of the launch of its new Clear Platinum card. To start, Citibank Clear Platinum cardholders will be able to make cardless credit card transactions at retail outlets such as music and IT stores, as well as clubs, restaurants and cinemas. Participating merchants include Zouk, Gramophone epiCentre, Coffee Bean & Tea Leaf and Shaw Theatre.

The biometric payment service will be introduced to more merchants and other Citibank credit cards in the near future.

“We are pleased to be working with Citibank Singapore to bring an innovative and differentiating feature to the new Clear Platinum card in a crowded, highly competitive marketplace,” said Drew Hyatt, Senior Vice President, Card and Authentication Services, Pay By Touch. “Already, millions of Americans love using Pay By Touch because it’s a faster, easier and more secure way to pay. We are confident that Singaporeans will feel the same.”

The biometric payment service is available free-of-charge to Citibank Singapore’s Clear Platinum cardholders. Enrolment takes minutes, and requires only a government-issued photo ID, a Citibank Clear Platinum credit card and a secure finger scan. Cardholders also create a seven-digit Personal Search Number, which facilitates the use of their scanned finger image to authenticate payment transactions.

The biometric enrollment kiosks will initially be made available at five locations: Citibank Singapore’s Orchard Road, Paragon, VivoCity and Parkway Parade branches and Zouk. More kiosks will be available at other branches and merchants in future.

IBM has invested a quarter of a billion dollars in a ‘mock bank’ intended to showcase future technology, designed to protect and monitor activity in the so-called Armonk.

Financial services executives will be allowed into the bank to gain a window into the technologies set to enhance their future operations.

The facility includes a surveillance system that monitors how much time customers spend in different sections of the branch and to what extent they are viewing product displays, biometric authentication devices that recognize users through the veins in their fingers, and automated teller machines that take deposits and recycle the cash for dispensing.

Big Blue has set up similar facilities in the U.S., China, and Europe.

After six months in stealth mode, Cogneto Inc. formally launched today with a mission to combat identity fraud for people using online services. Founded by a team of leading security experts, cognitive psychologists, network architects and specialists in human-computer interaction, Cogneto is pioneering a new branch of biometrics which identifies people based on behaviors inherent in the way they interact with computers. ‘Cognitive authentication’ is the most effective way to validate the identity of online customers since each person’s recognition abilities, response times and personal experiences are unique to them. Financial institutions, online retailers and military organizations need to authenticate their customers in a user-friendly, secure, reliable and cost-effective manner - a challenge which Cogneto aims to address.

Wireless and investment banking veteran Ralph Scobie, will lead Cogneto as chairman, president and CEO. He is joined by an experienced management team including:

– Patrick Audley, chief technology officer, and former founder of Group Telecom’s PKI division

– John Bradley, chief network officer, and founder of Group Telecom, Canada’s most successful CLEC

– Dr Andrew Csinger, chief strategy officer, former founder of Xcert Software Inc, a pioneer of public key infrastructure (PKI) software

– Martin Renaud, chief scientist, and experienced experimental psychologist with a specialism in memory

– Dr Barry Po, director of user experience, a leading expert in human-computer interaction.

Adrian Beeston, managing director, international, will head Cogneto’s London office.

“With the increasing threat of online fraud and identify theft, banks and other online organizations must take proactive steps to protect their customers by deploying strong authentication and security solutions,” said Ralph Scobie, CEO of Cogneto. “Until now those security measures always meant some form of compromise, whether in terms of usability, cost or the level of security provided. With cognitive authentication, Cogneto ends that dilemma - it is hardware-free, user-friendly and extremely secure.”

Cogneto’s two-way, multi-factor, strong authentication platform, UNOMI(TM), will be launched in October. It combines cognitive authentication with proactive universal risk mitigation enabling online service providers to securely validate the identity of their customers based on a range of behavioral measurements (such as response times), device inputs (such as the user’s IP address) and global factors (such as the ambient fraud threat level).

Cogneto is funded by a group of angel investors and with private equity. It has offices in Seattle, Vancouver, Canada and London, England.

Lowe’s Pay and Save, Inc. and Pay By Touch today announced the introduction of biometric check-cashing to 78 stores in the panhandle of Texas and into New Mexico. Paycheck Secure, powered by biometrics leader Pay By Touch, uses finger-scanning technology to enable customers to quickly and securely cash government or payroll checks.Paycheck Secure benefits both customers and retailers. The new system reduces fraud and enables retailers to keep check cashing fees reasonably priced for consumers.

“Paycheck Secure provides my customers a new level of convenience and discretion,” says Roger Lowe, Jr., CEO of Lowe’s Pay and Save, Inc. “I can provide better customer service by knowing my shoppers without having to hassle them for their ID. Paycheck Secure creates a sense of trust and privacy which makes customers want to come to my store more often.”

Customers can sign up for Paycheck Secure in minutes at Lowe’s Pay and Save, Inc. grocery stores. Customers simply provide a photo ID, two finger scans, and a digital photo which is taken right in the store. No bank account information is necessary. Once enrolled, no ID is required, and customers can quickly and securely cash payroll checks with a quick and simple finger scan.

“Pay By Touch is helping retailers like Lowe’s Pay and Save, Inc. significantly reduce fraud while providing better customer service,” said John Rogers, founder, chairman, and CEO of Pay By Touch. “Customers need and deserve a service like this.”

More than $8 billion in checks have been cashed nationally using Paycheck Secure. In January, Pay By Touch acquired BioPay, the developer of the biometric check cashing system. To date, more than 2.9 million consumers are using the system to pay and cash checks — primarily in retail locations.

For additional information about the Paycheck Secure product, visit. http://paychecksecure.com/main/ .

Money withdrawals in China’s capital Beijing will begin to be monitored using the latest in facial recognition software. By the end of October, criminals and fraudlent withdrawals will be linked to the police emergency response network at up to 1,000 cash points in the city.

“The technology is supposed to scan your face when you’re in front of the screen taking out money and automatically riffle through a database of wanted criminals or suspects,” said an official with the Beijing Public Security Bureau. He added that camoflague or disguise such as sunglasses won’t help any would-be criminals. All ATMs in the city are expected to be hooked up to this system within the year - of which there are over 3,000.

The use of bank cards in Beijing is increasing largely, but with it comes a growth in fraud and card counterfeiting. It is hoped this will be stemmed by the new biometric facial scanning. Just make sure the camera isn’t looking at your PIN.

Source - Xinhua