Where we were once hypothesising about the days of a cashless society, we could soon be doing the same about world without cards too as Costcutter declares it will be introducing technology whereby shoppers can pay for goods using the veins in their fingertips.
Of course, paying with your digits isn't a new thing - biometric technology has been talked about a lot. However, concerns over security have been raised as studies show how easily some biometric systems can be fooled by replicating someone's fingerprint. And the problem with having your fingerprint stolen and reproduced is that there's nothing you can do about it. It's not like a password - you can't get a new fingerprint.
Vein-scanning, then, claims to be a much more secure version of identification because it simply cannot be copied or stolen.
For some this vein-scanning technology is revolutionary in changing how we pay for goods, but for others it's just introducing new technology for sake of it.
However, we only have to look at the journey contactless payments have been on to see that consumers are more than willing to adopt these new, quick and convenient payment methods over time. Back in 2012, the Daily Mail reported the perception of contactless technology was turning into a “damp squib”. Yet today, there are now over 108 million contactless cards and UK consumers spent close to £4m through contactless payments in April 2017 alone!
Given that this latest payment technology claims to be a more secure, more convenient and faster way of paying for things, it can surely only be a matter of time before vein-scanning follows in the path of contactless payments?
Of course, the simple fact is that it all comes down to trust. Consumers will adopt the technology if they can trust that payments are being made securely. This will ultimately decide whether finger vein-scanning becomes the future or simply just a fad.
A UK supermarket has become the first in the world to let shoppers pay for groceries using just the veins in their fingertips. Customers at the Costcutter store, at Brunel University in London, can now pay using their unique vein pattern to identify themselves.