NFIB

New Payment Technology Tested in U.S. Groceries
07/25/2002

Small business owners staying up on the latest trends may be interested in knowing that a handful of grocery stores in the U.S. are testing a system to let customers pay without money, check or credit cards.

Fingerprint imaging machines enable shoppers to pay for a purchase by putting a finger on an electronic pad, the New York Times reports. The information is sent to a secure server where the image is matched with a print on file, and the purchase amount is deducted from the shopper's credit or debit card. The transaction takes about 20 seconds.

If the system catches on, it could save retailers from high transaction fees that credit card companies charge to cover losses from fraud.