Editorial & Advertiser Disclosure Global Banking And Finance Review is an independent publisher which offers News, information, Analysis, Opinion, Press Releases, Reviews, Research reports covering various economies, industries, products, services and companies. The content available on globalbankingandfinance.com is sourced by a mixture of different methods which is not limited to content produced and supplied by various staff writers, journalists, freelancers, individuals, organizations, companies, PR agencies Sponsored Posts etc. The information available on this website is purely for educational and informational purposes only. We cannot guarantee the accuracy or applicability of any of the information provided at globalbankingandfinance.com with respect to your individual or personal circumstances. Please seek professional advice from a qualified professional before making any financial decisions. Globalbankingandfinance.com also links to various third party websites and we cannot guarantee the accuracy or applicability of the information provided by third party websites. Links from various articles on our site to third party websites are a mixture of non-sponsored links and sponsored links. Only a very small fraction of the links which point to external websites are affiliate links. Some of the links which you may click on our website may link to various products and services from our partners who may compensate us if you buy a service or product or fill a form or install an app. This will not incur additional cost to you. A very few articles on our website are sponsored posts or paid advertorials. These are marked as sponsored posts at the bottom of each post. For avoidance of any doubts and to make it easier for you to differentiate sponsored or non-sponsored articles or links, you may consider all articles on our site or all links to external websites as sponsored . Please note that some of the services or products which we talk about carry a high level of risk and may not be suitable for everyone. These may be complex services or products and we request the readers to consider this purely from an educational standpoint. The information provided on this website is general in nature. Global Banking & Finance Review expressly disclaims any liability without any limitation which may arise directly or indirectly from the use of such information.

Pay with the touch of a finger

Nets begins finger vein payments pilot at Copenhagen Business School

Nets, the digital payments specialist, has launched testing of finger vein payments in Denmark. Now, students and visitors at Copenhagen Business School (CBS) can leave their cash, cards and smartphones behind and buy lunch using just their finger.

Paying with your finger is a new, faster and safer way of making payments that works by scanning the structure of veins in customers’ fingers. In collaboration with CBS, Smart Payments and Fingopay, Nets has installed finger scanners at the check-outs in the business school cafeteria. Anyone with a Dankort, the Danish domestic card scheme, can enrol in the system and link the unique pattern of veins in their finger to their account.

Biometrics, the use of biological recognition for identification, is not a new phenomenon. Paying with your finger vein is similar to the biometric capabilities on smartphones that consumers are already comfortable with – and even more secure. Many models of smartphone can now be unlocked, and particular applications accessed, with a fingerprint. Finger vein payments are even more secure than fingerprint biometrics because finger vein patterns are almost impossible to replicate and blood circulation must be detected for the payment to be authenticated.

The payment process is very much like other contactless payments but the increased security creates one key difference – even high-value transactions do not require the extra step of PIN entry.

“The pilot underway at CBS demonstrates how fast payments technology is developing. In 2017 we launched Dankort on the mobile using brand new technology, and now only one year later customers can become their Dankort themselves,” says Jeppe Juul-Andersen, Vice President of the Dankort sector, Nets.

Together with Smart Payments, a specialized independent innovations business founded by Nets, Nets is investigating several different solutions that will reshape the way we pay.

“Your means of payment may not be made of plastic in the future, as apps and infrastructures which enable consumers to pay using biometric identifiers are developed. We are excited to see how card holders find the finger vein payment experience. If they react positively, we will consider launching pilot schemes in other Nordic countries as well,” adds Juul-Andersen.

Finger vein payments are as secure as purchases made with the physical Dankort. Users can unlink the finger scanning function from their Dankort at any time if they no longer wish to make use of the technology.