Paying for a cup of coffee or your groceries may soon be as easy as waving your palm over the Fujitsu PulseWallet. This new device is designed to scan the veins on your palm as a way of processing payment. Once your veins are scanned, the PulseWallet then prompts you for your PIN, which is currently set to be your phone number. The terminal is said to have a 99.99992 percent accuracy rating, so you don't have to worry about someone stealing your veins. According to Fujitsu, registering to use the system takes less than a minute and the entire scan is completed in under a second.
It doesn't take that long to pay in cash or credit/debit card, but it's hard to argue with the convenience of being able to pay in under 10 seconds. In addition to the convenience of paying with the Fujitsu PulseWallet, the company also cites the hygienic and environmental benefits of the system.
Key Themes Behind This Trend
- Vein-scanning Payments
- Disruptive innovation opportunity: Explore the potential for vein-scanning technology in other payment solutions, such as mobile wallets.
- Biometric Authentication
- Disruptive innovation opportunity: Apply the use of biometric authentication in various industries, such as healthcare and security systems.
- Contactless Transactions
- Disruptive innovation opportunity: Develop contactless payment solutions that offer convenience and improved hygiene in retail and hospitality industries.
Where This Applies
- Financial Technology
- Disruptive innovation opportunity: Integrate vein-scanning technology into existing payment systems to enhance security and speed up transactions.
- Healthcare
- Disruptive innovation opportunity: Explore the use of vein-scanning technology in patient identification and medical records management.
- Retail
- Disruptive innovation opportunity: Implement contactless payment options using biometric authentication to enhance the shopping experience and improve transaction speed.
