It takes time for new payment technology to become mainstream. Consumers need the opportunity to experience the technology, trust it, and see that changing their habits will result in value. Palm vein biometric payment is new, but all signs indicate that momentum for this easy, convenient, secure form of payment is building.
Research by Visa and Feedzai, an AI-native fraud and financial crime prevention platform, found that consumers are interested in more secure identity authentication methods. French consumers in the survey are increasingly concerned with financial crime, with 57% reporting that they have been the victims or attempted targets of fraud. As a result, over 40% of French citizens are ready to use biometric payment methods. That number rises to 56% for 18-34-year-olds, underscoring the need for merchants and acquirers to plan for greater demand in the future.
How Palm Vein Biometric Payment Works
Palm vein patterns are unique to each person. Unlike fingerprints, which are sometimes visible if a consumer touches an item or a screen, palm veins are only visible with an infrared (IR) scan. Furthermore, when consumers enroll to pay with a palm vein biometric scan, they have the assurance that this authentication method is virtually impossible to counterfeit and the scan data is encrypted for security.
The enrollment process is easy. Consumers hold their hands over an IR scanner to map their palm veins, then link the scan to the payment account they would like to use to pay. When it’s time to check out, consumers hold their hands over the scanner, which verifies identity and initiates transactions.
The hygienic, no-touch process is the ultimate in convenience and ease. Consumers don’t have to carry a wallet or purse or even use a smart device with a mobile wallet. Among payment methods, it’s one of the easiest. It just takes a wave of the hand to pay.
Why Palm Vein Is the Superior Biometric Payment Method
While many consumers are familiar with fingerprint scans to verify their identities or unlock personal devices, fingerprint biometric payments have some drawbacks. A fingerprint scan requires the consumer to touch a screen. Dirt and grease can accumulate, which can result in bad reads, rejected transactions, and frustrated consumers. In addition, fingerprints can change with age or injury, disrupting identity verification processes. Furthermore, a fraudster could copy and use a fingerprint to use an account without authorization. Facial scans or iris scans are alternatives, but consumers may feel that they are intrusive.
Palm vein biometric payment is a reliable, lifelong method of identification. It requires no touch, and the scan is never visible to bystanders.
Palm Vein Payments in Action
Consumers in France – and from around the world — had the opportunity to experience the ease and convenience of palm vein payments during the Summer Olympic Games in Paris in 2024. During the games, Carrefour Markets tested palm vein recognition in its store in the 6th arrondissement of Paris, not far from the Ile de la Cité. The payment solution, which had been used successfully in Uruguay earlier in 2024, included terminals from Ingenico, biometric access technology from Fulcrum Biometrics, Fujitsu, and the Mastercard Biometric Checkout Program.
Carrefour found that checkout was faster, improving shopping experiences during a high-volume time. Consumers who enrolled in the program simply held their open hand over the payment terminal, and in just seconds, payment was complete.
An advantage of this secure payments solution is that it can be integrated with customer loyalty rewards solutions to enhance customer experiences at checkout. Merchants and acquirers can also benefit from fewer chargebacks. A palm vein scan definitively identifies the consumer, all but eliminating fraudulent transactions.
The Beginning of an Exciting Journey
Palm vein biometric technology is only in the early stages of implementation and adoption. However, it shows promise as a payment method by providing real value to consumers, merchants, and acquirers.
Ingenico and its partners have developed a solution that merchants can pilot today. Contact us for more information on this solution, successful implementations, and how palm vein payments can work for your business.
