UK-based payment services Fingopay is set to close its equity crowdfunding campaign on Crowdcube with nearly £850,000 in funding, thanks to more than 450 investors. The funding round was launched last month and quickly raised its initial £750,000 target.
As previously reported, FingoPay, which was created by Sthaler, in partnership with Worldpay, VISA, and Nets, originally designed for music festivals. The service reported that sing its launch it has caught the attention of retails sectors that are in need of fast, safe, accurate customer experiences. Fingopay notably enables efficient speed and volume of transactions for merchants.
“Fingopay uses Hitachi’s VeinID to authenticate and verify payments. Infrared light illuminates the unique vein pattern in your finger. Fingopay creates an anonymized cryptographic token. This is matched with your details in the Cloud. Identity is verified and payment can be completed in seconds. Fingopay enables greater efficiency, speed and volume of transactions for merchants. Which can create more footfall and better customer experience. They can map purchasing preferences to offer targeted promotions and deals.”
FingoPay also reported that it has proven customers and retailers want it through successful pilots at Proud Bar, Camden; Brunel University, London and Copenhagen Business School. Speaking about FingoPay’s services, Ray Hockley, Senior Solution Manager at the services’ partners Hitachi, stated:
“We have been working closely with Fingopay to build a pipeline of business. You don’t need a credit card. You don’t need a phone. You don’t need a QR code. It’s just you, all you need to pay is your finger.”
Funds from the Crowdcube round will be used to continue Fingopay’s growth and expansion. It is set to close on Wednesday.
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