Financial watchdog proposes palm vein for new biometric authentication

By Park Sae-jin Posted : January 5, 2017, 14:29 Updated : January 5, 2017, 14:29

A new automatic banking system in Woori Bank.[Courtesy of Woori Bank]


South Korea will launch a pilot project this year to test a new type of biometric authentication using the palm vein for off-line store payment, a financial watchdog said Thursday.

Designated credit card firms will introduce a new payment system called "BioPay" after storing biometric data about the palms of clients, the Financial Services Commission said in its New Year policy report.

Like other biometric authentication technologies using iris and voice recognition, BioPay does not need plastic cards because it can check identity by scanning the palm vein. It is also effective in detecting any attempt to tamper with payment processes.

The use of BioPay will be expanded if it turns out to be safe and convenient, the commission said.

Fingerprint scanners are widely used at banks and state bodies to check identify, but mobile payment requires hack-proof solutions to ensure safe and convenient financial transactions.
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