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Japanese Startup Liquid Inc. Introduces Biometric Payments

Forget the hassle of carrying a wallet!

The Tokyo-based startup, Liquid Inc. introduces biometric payments.Make a payment with just the tip of your finger! The fingerprint system will also be used as a speedy substitute for presenting passports when checking into hotels, which is currently a legal obligation for overseas tourists, according to the reports.

Biometrics in India

According to a recently published TechSci Research report, “India Biometrics Market Forecast and Opportunities, 2020”, biometrics market in India is projected to grow at a CAGR of over 35% during 2015 – 2020. Growth in the market is anticipated on account of the extensive use of biometric technology in the government sector.

In 2016, fingerprints have entered the mainstream as a way to log on to smart devices, but it’s still difficult to pay for rides or at the cash register with just a finger. To be successful, a payment system would have to match the print against a database that may include multiple other prints, and—to keep customer satisfaction—do it within seconds.

About Liquid Inc.

Liquid Inc. is backed by the Japanese government and the country’s biggest names in banking and technology. It has begun rolling out the new payment system for retailers across Asia, including the Philippines and Sri Lanka. Yasuhiro Kuda is the CEO of the startup.

Biometrics have a bright future in Japan, does it look like something India can adopt? Please share your thoughts in the comments section below.

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