Revolutionary Fingerprint Payment Ecosystem to Hit Silicon Valley This Spring

SAN FRANCISCO, CA / ACCESSWIRE / February 21, 2023 / OVE Touch & Go® (“OVE”) is excited to announce its new frictionless way to pay and is getting ready to hit the market in Springtime. Using fingerprint technology, the San Francisco-based corporation has created a cloud-based device that integrates with every POS platform and allows users to make one touch biometric payments at point-of-sale.

The initial launch will take place in the San Francisco Bay Area with additional cities to come later this year.

Caio Buchalla, CEO of OVE says, “we didn’t create OVE Touch & Go to be just another payment option, we’ve designed it to transform the way we think about money. By providing unparalleled freedom, authenticity, and security to customers and an entire payment system, we’re ushering in a new era of financial possibility. A single touch can be the catalyst for change”.

Customer benefits and information

By allowing customers to pay with their fingerprints, OVE offers the freedom of not needing a wallet or phone (e.g., making digital wallet payments) to complete a purchase. Instead, the company emphasizes the convenience of being able to pay with your fingertips, with each of your fingers having the ability to set up a different payment option.

For example, if a customer wants to pay with a credit card, they can use their pointer finger to make purchases through the corresponding account. On the other hand, if the same customer wanted to make a crypto wallet payment, they have the option to choose a different finger to associate with said account, and so on. With OVE, your fingers are the only tools needed to make a purchase.

Creating an OVE account

Signing up for an OVE account is quick and easy. Simply download the app, create a verified account, add your payment methods, link them to each of your fingerprints, and you’re ready to start making payments. There’s nothing easier than one touch!

Merchant benefits and information

Merchants can directly purchase the company’s Touch & Go Sensor, which has the ability to integrate with every point-of-sale setup. It’s important to note that the company is not a POS itself and doesn’t process payments, but is instead a POS responder.

The sensor has touchscreen capability, wireless connectivity, NFC technology, and 24-hour battery life. To align with the company’s promise of secure payments, fingerprint information, and personal data are never shared with merchants or the POS systems, only payment processing information.

How it compares

A recent report from The Financial Brand suggests that contactless payment usage is going up while mobile payments are on a downward trend. According to TD Bank’s Douglas Mearkle, ETA CPP, this trend is closely linked to the speed of payments.

Mearkle says, “With tap to pay, consumers can quickly take out their credit card and tap the terminal” with the digital wallet option being more convoluted.

Other payment processors such as Amazon One, which allows customers to pay with their palm have sparked concern about privacy issues and payment failure.

According to OVE, its service is the most optimal option for customers because of the convenience of paying with what you already have on hand, along with 99.9% prevention against payment fraud. For merchants, there’s a large reduction on chargeback fees, the flexibility of taking payments tableside or at a counter, and minimal liability.

Partnerships

So far, the company has been conversing with multiple POS systems, presenting the financial and secure advantages this partnership can bring (with additional information to come), and has already secured a deal with Green Payments.

The Green Payments partnership has allowed OVE to offer its services to more than 5,000 merchants throughout the country and it’s planning to launch with 14 restaurants in San Francisco this Springtime.

About OVE Touch & Go®

OVE was founded in 2020 by the entrepreneurs Caio Buchalla, Daniel Cafiero, and Anshul Bagai and is based in San Francisco, CA. It can also be found on these social media platforms:

Instagram

LinkedIn

Press Contact: Jamie Kingsley [email protected]

SOURCE: OVE Touch & Go