Barclays Bank in Britain has announced use of a new biometric pain free vein reading technology for business banking which could find use in the US to prevent fraud on banking customers. Business customers place their finger in a reader before logging onto their internet banking. It works by monitoring your vein pattern and the finger must be attached to a live body to work.
In addition to protecting ATM transactions, it can also be used verify online payment transactions. If every household had a vein reader at home, we could complete our Amazon purchases by touching our finger onto it, rather than having to squint to find the last three digits on the back of our credit card.
In Poland and Japan, consumers are already using Hitachi’s infrared scanners that capture the unique pattern of capillaries in the finger and hand. The most secure biometric technology uses a device designed to perform an iris scan based on more than 2,000 unique measurement points. According to developers, people and pets all over the world will be connected to a system that uses iris scan identification within the next decade.