FinGo

FinGo is a British company that offers finger vein biometric authentication terminals for several use cases, including identity and age verification, payment and loyalty, access and security, and transport ticketing, among others. Users must download the app and can link their bank details and payment cards with their finger veins through a FinGo POS terminal. Thereafter, users can make payments by authenticating their identity through finger veins using a FinGo biometric POS terminal, without needing payment cards or mobile devices. The company has global operations and has also worked with governments in Egypt and the UK for various identity verification schemes.   

The company utilizes Hitachi’s biometric identification technology and converts the vein patterns into encrypted, tokenized personal digital ID keys, which are stored on the cloud. FinGo stores each personal information element separately and reduces the risk of data being compromised, compared to having all data stored in a single location.  

Its retail terminals are commonly used in college campuses, sports stadiums, bars, and venues requiring memberships, such as gyms and sports clubs. The technology can also be used for unattended retail such as in self-service retail kiosks and vending machines. In March 2022, FinGo partnered with British cashless payment solutions company VMC , to automatically authenticate users’ age at point of sale, thereby enabling unattended retail for age-barred items such as liquor, e-cigarettes, and vapes. It subsequently partnered with NYCE International in April 2022 , to bring biometric identity authentication and payments to the gaming industry, such as in casinos, and automatically authenticate users’ age to comply with regulations. 

In addition to the core service of handling payments, FinGo also lets its customers offer prepaid wallets and customer loyalty programs to end customers.

FinGo improved the reach and data security of its platform by partnering with Mastercard in June 2021, to gain access to the Mastercard Payment Gateway Services (MPGS; Mastercard’s offering for its merchant partners to access payment processing and anti-fraud technologies). By accessing the MPGS, FinGo noted that it can reach “millions of merchants” around the globe and is a stepping stone to expand operations in North America, Europe, Asia, and the Middle East and North Africa (MENA).