As an aspiring entrepreneur and a man of innovation and solution finder, I have a business idea for payment processing that will help eliminate scam and fraudulent transactions using a technology where no one can duplicate a card. This is with the use of biometrics technology and I will call it Bio1ne Payment Solution Company.
God created every individual unique. With the aid of biometrics, scams and frauds can be totally eradicated. I come up with this idea one time when I was in a supermarket here in the Philippines and I forgot one of my cards and I queued already. I need to pay it using cash. I always prefer cashless. Then on the other counter I saw a man and the cashier asked for the loyalty card and that man forgot his card.
With that instance, I come up with a software or technology whereby, all cards (debit/credit, rewards card, loyalty card, points card) are all included in one’s account and it will be connected with only one identity. This technology can use National ID or any government issued ID to create a legitimate account. User can add as many cards as he/she can using that application.
When a user goes to a certain store there will be a terminal like POS wherein a customer can scan his/her finger print or using iris or face recognition to pay any products/services he/she wants to avail. Using this technology, the customer can just choose what card he/she can use when paying his/her bill. This will eliminate also printing of receipt that needs customer signature. In other countries they are not using signature anymore. But this will be more convenient for many people. It’s like scan and go. Through biometrics capture everything is paid.
At this time, I do not have enough cash to fund and make this a reality but if a big company will help me like Visa or Mastercard or Googlepay I am so much willing to help them to make this a reality.
This innovative idea can truly help a lot of people like me to contain all my cards in one account which can be called bio1ne. I choose bio1ne because as a human we all have one identity and cannot be duplicated. It will surely help business to prosper and create a big impact to humanity.
If you are so rich and wants to fund this project, I am willing to discuss and hopefully you can help me too.
