Offering quicker transactions and cheaper transaction fees than credit cards, biometric payment systems are beginning to catch on among consumers and retailers, such as Lowes Food Stores and Piggly Wiggly.
“It keeps me from having to carry cash or a checkbook,” said Darren Hiers, who uses his fingerprint to pay at a convenience store. “It makes my life a little easier, especially if I just want to get in and get out.”
Tim Robinson, president of biometric technology maker BioPay, would agree with that. BioPay has a database of about 1.8 million customers, with most of them enrolling in order to have identification for cashing checks.
But Robinson sees another benefit for retailers when it comes to transaction fees. Credit card companies sometimes charge fees of almost two percent of the total purchase, but BioPay charges a flat 15-cent fee for every transaction.”
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