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Credit News Roundup: Yup - People are Now Paying for Stuff With Their Face

2013 may be a time of amazing technological advancement, but some of us can't help but feel a little bit bummed that some of the really cool gadgets we were told would be here by now. And yes, we mean flying cards.

So, you can imagine our excitement this morning when we saw this video on Fast Company from the start-up Uniqul detailing the newest wave of spending in Finland - paying with your face.

OK, you can't actually do this yet. But according to Forbes, Uniqul is set to begin the process of adding the system in Helsinski "soon".

So how does it work?

Well, without getting too technical (because, let's face it, we can't), a customer walks up to the payment checkout terminal (or kiosk, or cashier), and rather than pull out your wallet or your credit card, all you need to bring is your face. The product then does a scan of your eyes, and the customer awaits for their ID to pop up on the screen. From there, it's a matter of confirming that the picture staring back is in fact you, and on you go with your day with your purchase in hand.

Sure, the payment-by-face method isn't quite as exciting as flying cars, but this certainly brings us a step closer to Spielberg's Minority Report-style future. Then again, given the fact that the US can't even get completely on board with Chip and PIN technology, this technology isn't likely to hit stateside anytime soon.

So what do readers think of a payment-by-face purchase system? Do you think it's totally awesome or completely weird? Tell us below in the comments section - we always love to hear from you!

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Jason Bushey's picture

Jason Bushey is the former Editor and Vice President of Creditnet. Jason is a Burlington, Vermont native who moved to sunny San Diego after earning a Bachelor's Degree in English and Political Science at the University of Vermont ('09). When he's not sharing his take on credit cards, administrating the Creditnet Forum or blogging about all things related to credit, you can probably find him cheering on the Green Bay Packers (He's an owner!) or running up and down the streets of SoCal.

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