VMC and FinGo, a Manchester based Finch business, have achieved a ‘world first’ in retail vending technology, which enables users to pay – and verify their age – through a simple scan of their finger.
FinGo’s vein mapping technology works by taking a simple scan of a person’s unique vein pattern through an infrared device. The scan is connected to that individual’s FinGo account, which in turn can be linked to their verified ID, or a digital wallet, to enable payments. After registration, users can scan their vein to prove identity, age or make payments anywhere the FinGo system is in operation..
The upshot of this innovation from VMC and FinGO is this: another opportunity is opening for ‘unattended retail’, this time in sales of age-restricted products, such as alcoholic drinks, e-cigarettes and vapes.
It’s not the first notable ‘first’ that FinGo have enjoyed: In 2020, Manchester City Council was the first in the world to approve FinGo to verify age in licensed premises – so customers could pay for a pint and prove their age with their finger.
The partnership will also explore sustainability projects through reverse vending schemes, allowing users to collect and recycle empty containers, collecting points or rewards along the way.
As well as developing the biometric vending machine interface, FinGo will offer a combined ePOS ordering, payment and Identity solution alongside VMC’s ‘Flex’ cashless loyalty solution.
‘FinGo and VMC have the potential to transform retail and hospitality’, Simon Binns, Chief Commercial Officer of FinGo said. ‘This new approach to vending will make purchases easier for customers and more cost-effective for vendors, demonstrating the importance of an entirely secure identity system that can integrate with other aspects of our daily lives. VMC mirror FinGo’s approach to innovation, and our combined solutions will push the boundaries in the unattended retail space.’
Nick Bate, VMC’s MD, concurs: “As a business, we’ve always focused on innovation and exploring ways to add value to our systems. The collaboration with FinGo continues this tradition. Integrating FinGo’s pioneering technology with our own, to enable age and identity restricted sales in both vending and unattended retail, will help us to explore new markets and deliver the very best integrated payment solutions to our customers.
It’s a whole new world of possibilities…
PV’s Bluffer’s Guide to FinGo
FinGo’s parent company Sthaler Ltd was founded by music entrepreneur Nick Dryden, through a desire to create a cashless experience for festivals and events. FinGoPay – the company’s first product – was successfully introduced at Festival No. 6. Since then, FinGO has graduated from the Visa Collabs programme, and completed successful pilots at Proud Bar Camden, Brunel University, Copenhagen Business School and the Etihad Stadium in Manchester.
More? Visit Planet Vending
