Hypr-3, a payment gadget that debuted at CES 2015, harnesses the power of Bluetooth to make mobile transactions through any device it is attached to.
The Hypr-3 corresponds with an accompanying app, which functions as a "mobile wallet," storing users' credit and debit information.
Beyond the convenience factor, the Hypr-3's main selling point is its security. The three-part authentication system requires that users have the device itself (a 3.2mm stick that's stuck on the back of a phone or anywhere it can connect to Bluetooth). Secondly, the device encrypts the users' fingerprint, giving them exclusive access to it. The third part is the pin number that will unlock the device. In other words, it would be very hard for anyone to hack into the system, as they would need the device, an authorized fingerprint and pin number to do so.
Key Themes Behind This Trend
- Bluetooth Payment Devices
- Opportunities for firms to design secure and convenient payment devices with Bluetooth technology for mobile transactions.
- Mobile Wallet Apps
- Opportunities for firms to develop mobile apps that store and manage credit and debit information for secure transactions on mobile devices.
- Multi-factor Authentication Systems
- Opportunities for firms to create more secure and user-friendly authentication systems that combine biometrics, smart devices, and pins for secure transactions.
Where This Applies
- Payment Processing
- Opportunities for payment processing companies to incorporate Bluetooth payment devices and multi-factor authentication into their platforms for a more secure and convenient customer experience.
- Mobile Technology
- Opportunities for mobile technology companies to create and innovate payment gadgets, mobile wallets, and authentication systems for secure and streamlined mobile transactions.
- Cybersecurity
- Opportunities for cybersecurity firms to provide secure and reliable multi-factor authentication solutions for payment platforms, mobile wallets, and payment gadgets, such as the Hypr-3.
