Connect, โHanditโ for authentication and payment of the veins...
โConnect is a company leading bio-fintech. Last May, it was the first PG company to pass the Financial Supervisory Serviceโs bio-authentication service terms and conditions review.โ
Won, CEO of Connect, said, โWe are utilizing biometric information such as fingerprint recognition and facial recognition, but it has been difficult to connect it to user authentication and payment due to security issues.โ He added, โIn this situation, we developed โHandit,โ a solution that enables authentication and payment using vein biometric recognition technology.โ
According to this representative, payment technology has developed rapidly as fingerprint recognition technology has been applied to smartphones and mobile payment services have become widely used. Contactless payment methods have also expanded due to COVID-19. This representative said that he thought, โCanโt we connect everything more safely, more conveniently, and more easily?โ He said, โAs we have entered a world where everything is possible with just a cell phone, beyond cashless and cardless, I thought about ways to do everything without a cell phone.โ
Payment requires cash or credit card. Entry requires an employee ID or NFC (near field communication) device. Identity verification requires an ID or certificate. Each of these methods carries various risks, including fraud, damage, loss, and personal information leakage. In addition, as the number of methods increases, the frequency of other problems may also increase. โWe thought about a single method that can reduce risk and increase convenience,โ said CEO Lee. โONE ID, the answer was โHandit.โโ
'Handit' is an authentication and payment solution using the venous vein. Among biometric authentication methods, venous vein authentication is less affected by sweat or surgery than other methods. It is not greatly affected by variables such as growth processes, so it can be used permanently for anyone over the age of 14. The representative said, "It is being used in facilities where security is important, such as banks, because the rejection and misrecognition rates are 1,000 times lower than fingerprint recognition," and "It is a method that has been certified in terms of security and reliability."
In particular, 'Handit' is a solution that allows not only authentication but also payment using the Palm Secure vein. If you register your card payment information in advance in the app (application), you can proceed with payment simply by scanning the Palm Secure vein.
Connect was able to expand its service business through biometric authentication after passing the Financial Supervisory Serviceโs Terms of Use review in May. It also signed a security solution introduction contract with quantum security company Softforum for payment security and stability. โHanditโ is scheduled to undergo the Financial Supervisory Serviceโs security review in August and the Korea Internet & Security Agencyโs Information Security Management System (ISMS) certification in October. โI believe that there is no such thing as too much in security,โ said CEO Lee. โWe will work to improve the security of โHanditโ and secure customer trust based on this so that more people can use it.โ
According to Connect, the company plans to utilize existing hospital franchises to expand Handit. It plans to support automatic reception and payment through venous vein scanning. The company said that the process can be applied to various places where authentication and payment are performed. At the airport, Handit can be used for self-check-in and checking airline tickets, and at duty-free shops, items can be purchased without a passport. The company also explained that it can be used in place of necklaces or bracelets at theme parks and ski resorts for access control and use of auxiliary facilities.
The representative said, โHandit can prevent personal information leaks, so it can be widely used in many areas, such as identity verification in place of documents in government offices or simple payment at tourist destinations,โ and added, โWe expect it to become deeply ingrained in our daily lives.โ He continued, โWe are also establishing strategies for expansion in various areas, such as serving as a gateway using bio-information through business partnerships with bank bio-centers that prioritize security and have a lot of bio-information.โ
The CEO predicted that the Palm Secure technology will soon become an important element of fintech. He said, โConnect plans to create a new market and secure technological competitiveness with the bio authentication and payment solution โHanditโ,โ and โThrough this, we will establish ourselves as a leading company in the bio fintech field.โ
Meanwhile, in addition to 'Handit', Connect also provides other services such as 'ePAYDAY', a convenient payment service, and 'bankners', which allows payments at various stores with low fees through a unique virtual account number.
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