Imagine being able to retrieve money from your bank account simply by looking at your ATM machine.
Now stop imagining. It’s already happening. Iris recognition is being used in lieu of debit cards at over 1,000 ATM’s of financial institutions in Chicago and Montreal. Larger banks such as Citgroup, Bank of America and J.P. Morgan Chase are either involved in testing, or carefully considering trials.
Why? A couple of reasons: no two irises are the same – not even those of twins. When you add to this fact that ATM debit card crime hit its highest level in twenty years, the use of this security technology becomes more enticing.
According to The Wall Street Journal, a card and pin code needn’t be used with iris recognition ATM’s. The machines don’t even have screens or touchpads. Customers instead use their mobile phones before approaching them to pre-program how much money they would like to withdraw. Then, they step up to the ATM, peer into a scanning device, and 15 seconds later – as opposed to a conventional ATM’s 45 – they have their money.
Guess that’s really putting your money where your eye is.
Find your next eye wonders at Charlotte Jones Opticians.