Nine start-ups, two banks and an insurance firm have been chosen as part of the Central Bank of Ireland’s latest fast-track digital payments Innovation Sandbox Programme, reports the Irish Independent.
The regulator is to provide the companies with six months of “internal Central Bank subject matter experts to provide comprehensive regulatory advice and support as necessary”, as well as data tools and workshops on specific payments topics.
One of them is an Irish fintech called FacePOS, that is developing a point‑of‑sale instant payment system that relies on AI‑driven face biometrics.
FacePOS enables instant account‑to‑account payments at checkout, offering an alternative to card‑based transactions. Instead of tapping or inserting a card, users authenticate using face biometrics. The system incorporates liveness detection to prevent spoofing and includes proximity checks and confirmation‑of‑payee controls.
FacePOS says its biometric approach removes several intermediaries involved in card payments, which it argues could reduce fraud exposure and operational costs. On its website, the startup prides itself on its “simple, transparent pricing” for businesses and customers.
Banking 4.0 – „how was the experience for you”
„To be honest I think that Sinaia, your conference, is much better then Davos.”
Many more interesting quotes in the video below:
