A Houston-based startup called Epic One is working to leverage biometric security technology to make the point-of-sale safer for consumers.
Forbes reported on January 3 that the company is developing a new type of credit card that features a microprocessor and a fingerprint reader. When consumers swipe this card, the merchant does not receive the kind of sensitive financial information that was stolen in the recent Target breach.
“The root cause of fraud is the exposure of this information,” William Gomez Jr., the co-founder and CEO of Epic One, told Forbes in an interview. “The Epic One card does not hold any details of any credit cards. Neither does the Epic One application that runs on your smartphone.
Investigators are still sifting through the data in the aftermath of the Target breach. As Market Platform Dynamics CEO Karen Webster explained in a recent commentary, the course of payments in 2014 was irrevocably altered by the incident.
To learn more about Epic One’s new technology and its potential to prevent large-scale data thefts in the future, read the full Forbes story by clicking here.
“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.
Advertisement: Scroll to Continue
