A San Francisco-based company, OVE Touch & Go, has announced the launch of a new payment ecosystem that utilizes fingerprint technology, coming in May. This innovative payment system allows users to make biometric payments at the point of sale with just one touch, eliminating the need for a wallet or phone. The initial launch will take place in the San Francisco Bay Area, with other cities to follow later this year.
The CEO of OVE, Caio Buchalla, says that the company has designed OVE Touch & Go to transform the way we think about money by providing unparalleled freedom, authenticity, and security to customers. This new payment system allows users to pay with their fingertips, with each finger having the ability to set up a different payment option. For example, a user can use their pointer finger to pay with a credit card or choose a different finger to pay with a crypto wallet.
Consumer benefits and information
By allowing customers to pay with their fingerprints, OVE offers the freedom of not needing a wallet or phone (e.g., making digital wallet payments) to complete a purchase. Instead, the company emphasizes the convenience of being able to pay with your fingertips, with each of your fingers having the ability to set up a different payment option.
For example, if a customer wants to pay with a credit card, they can use their pointer finger to make purchases through the corresponding account. On the other hand, if the same customer wanted to make a crypto wallet payment, they have the option to choose a different finger to associate with said account, and so on. With OVE, your fingers are the only tools you will need to make a purchase.
How does it work?
Signing up for an OVE account is quick and easy. Simply download the app, create a verified account, add payment methods, link them to each fingerprint, and you’re ready to start making payments. The OVE Touch & Go Sensor can be directly purchased by merchants and integrated with any point-of-sale setup. It has touchscreen capability, wireless connectivity, NFC technology, and a 24-hour battery life. Fingerprint information and personal data are never shared with merchants or the POS system, only payment processing information.
According to OVE, its service provides 99.9% prevention against payment fraud, making it the best option for customers. Merchants can benefit from a large reduction in chargeback fees, the flexibility of taking payments tableside or at a counter, and minimal liabilities.
OVE has already secured a deal with Green Payments, allowing it to offer its services to more than 5,000 merchants throughout the country. It plans to beta-launch in 14 restaurants in San Francisco by May 2023. This revolutionary payment ecosystem provides a frictionless and secure way to pay for customers and merchants alike, ushering in a new era of financial possibility.