Fingerprint biometric-based payment arrives in Singapore

Singapore-based technology company Touché recently announced an agreement with OCBC Bank to bring what it said to be the world’s first fingerprint biometric-based payment and loyalty management solution to OCBC’s Singapore credit card merchant customers.

Developed in Singapore, Touché includes both an “innovative” device and a “robust” software solution that delivers highly secure, convenient and personalised point of sale transaction (POS) services at the touch of two fingers, according to the company.

Touché will offer the solution to all of OCBC’s cards acceptance merchants with physical stores.

“We are delighted to collaborate with Touché to be the first in Singapore to offer a fingerprint biometric payment solution to our cards acceptance merchant customers. This service enables an easy and secured platform that will improve the user experience for their customers. It will make digital e-payments simpler and more accessible than using cash and will help to drive Singapore’s push towards becoming an e-payments society,” said Desmond Tan, head of Group Lifestyle Financing, OCBC Bank.

Touché eliminates the need for multiple payment devices as its devices are set up to accept traditional card payments as well as fingerprint-based payments. Transactions are completed quickly and recorded electronically, translating to operational efficiency, and receipts are emailed -- making the reconciliation process more efficient and eliminating paper entirely.

“Touché provides a highly convenient and secure transaction point for people without the need for multiple cards,” said Sahba Saint-Claire, chief executive officer and co-founder, Touché. “But Touché is more than payments and biometrics. We are a solution that enables merchants to provide their customers with personalised experiences to deepen their relationships. Touché is a key point of differentiation for banks and merchants, helping them grow their business by delighting customers and offering the next level in people engagement.”