SINGAPORE: From as early as next year, students can choose to opt into a biometric payment system that will allow them to make payments using their fingerprints.
Touché, a biometric payment method that is an upcoming feature of the POSB Smart Buddy programme, was launched on Wednesday (Aug 16) and officiated by the Minister for Education (Higher Education and Skills) Ong Ye Kung.
Currently, the POSB Smart Buddy programme allows primary school students to make payments and manage their money with the help of a digital watch.
The biometric system will allow students to register two fingerprints on sensors which will later be linked through the POSB Smart Buddy programme to their parents' account. The students could then pay using their two fingers at any Touché device in the school.
This latest form of payment aims to eliminate the need for cards, cash, wearables and smart wallets and also allows parents to supervise their children's spending.
Mr Sahba Saint-Claire, CEO of biometric-based service provider Coolpay which is behind the new device, said that this partnership with POSB Smart Buddy "is in line with our Prime Minister's focus on making Singapore a Smart Nation".
To ensure user safety, the sensors on the biometric device that will be used are FBI-certified and can read up to 45 unique points from each finger that is registered on the device.
Fingerprint information will not be stored on the device. Instead, the prints will be encrypted and stored securely in a cloud database.
Anti-spoofing technology will also be put in place to ensure that the fingerprints are real and that the person making the payment is present.