Sthaler’s Fingopay technology has been listed in 9th place in Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2020.
The list, which includes Fingopay in its Europe section, honours the businesses making the most profound impact in today’s fast-changing world.
Fingopay uses Hitachi VeinID technology to allow customers to prove identity and pay using only their finger. It enables fast, safe, secure transactions, with no need for cash, cards or passwords.
At tills, harmless infrared light maps the unique pattern of finger veins, verifying payment in two seconds through its biometric cloud-based matching system. Unlike fingerprints and ensuring the highest security authentication possible for biometric technology, a vein pattern leaves no trace and cannot be copied.
Nick Dryden, CEO at Fingopay, commented on the accolade, “Our biometric finger vein payment technology offers an innovative and unique way to pay, prove ID or use for access, and our work to date demonstrates the future potential of biometrics.
“We are thrilled to be named in the top ten most innovative companies in Europe by Fast Company. Snap, Siemens, Tesla and Beyond Meat are just some of the names also credited so it really is an honour to be included.”
The most recent example of Fingopay innovation is the world’s first bank-to-bank face-to-face payment using finger vein ID. Fingopay successfully completed this in partnership with Open Banking.
Trustee of the OBIE, Imran Gulamhuseinwala OBE said: “Fingopay and Open Banking gives the end consumer a truly frictionless payment experience and delivers what future generations will expect in terms of payment security and convenience. Fingopay is now part of our Open Banking ecosystem so partners and customers can align with Fingopay’s roll out in Manchester and more widely across the UK.”
Fast Company senior editor Amy Farley, also commented, “At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond.”