Most of the time, I’m always engage to day dreaming. Since I’m a person that wants everything efficient, I always think of immediate revolutionary solutions that would replace the current system that I’m dissatisfied with.
I’m one of the proud supporters of cashless transactions. Be it debit, prepaid or credit card, so long as you’re not bringing in cash, I’m with you. I believe that it’s more secure to bring your cards with you wherever you are than bring your cash. Unlike with cold cash, when someone robbed your things, you’re money is still secure. If they don’t know your PIN or can’t imitate your signature, your cards are no use to them.
This is the very reason why I keep on forcing my school to accept cards when paying for our tuition fees. Also, I also bloggged about the mCash cards that revolutionized the MRT ticketing system in Metro Manila. These are just few of the examples that I’m really with cashless transactions. It mirrors technological advancement and efficient systems.
So taking all of these into consideration, I realized that we could still further enhance this cashless system technology. How?
Since I’m very addicted online, I also do most of my banking transactions online. When paying for my phone, electric and other utility bills, I just use the payment system of my bank to pay them without hassles. That’s very much convenient. With this in mind, I tried consolidating the two hassle-free transactions. Why not coming up with a fingerprint bankless transaction system?
What do I mean with fingerprint bankless transaction system?
Debit, prepaid and credit cards are still quite a hassle. What if you forgot to bring your cards? So you don’t have any options of buying something?
Fingerprint Bankless Transaction System (FBTS) simply means utilizing our fingers in accessing our bank accounts. Banking companies can produce fingerprint-operated facilities(similar to ATM and card merchandise facilities but can detect fingerprints for account access) that could be used on different merchandises and ATM booths for their customers to access their bank accounts.
So, how does it work?
First, we, the customers, should register on our banks to use this service. When registering, we are accepting the rules of the banks prior to the usage of the Fingerprint Bankless Transaction System. With this, the bank will be integrating the recorded fingerprints of our thumb – both right and left – (this is going to be our primary fingerprint records) along with our other fingerprints as secondary records.
After doing so, we can access accounts anywhere with the use of fingers when paying for our bills, shopping, traveling and eating out. As long as there are fingerprint-operated facilities, we can always transact with our own fingers.
What About the Security of our Accounts?
Like the use of our cards – debit, prepaid or credit cards – we, the account holders, are responsible for any inappropriate usage of the accounts. In times of accident like skin burns over our fingers which will definitely affect our fingerprints, we can still use our cards or, our secondary fingerprints.
The use of Fingerprint Bankless Transaction System does not necessarily means to eliminate the use of cards which are also considered bankless transactions. But somehow, using FBTS will help add another way to conveniently transact without having a cold cash with you or withdrawing directly over-the-counter of your bank.
The FBTS is also similar with another high-end technological innovation in terms of attendance tracking for corporate usage. With ClockSpot, an online time clock, you can clock in and out anywhere with the use of any internet-capable devices such as your computer, laptop, notebook or mobile phones. It also serves as an online timesheet where you can track your attendance such as incurred absences and tardiness. With this service, you can even calculate your payroll and job costs!
The world is really running in fact pace. We need to follow the advancements and accept the new things that technology is giving us. In anyways, these new technologies are made to serve us and for us to live more convenient, comfortable and efficient.
Fjordan Allego aka Fjordz is an IT security practitioner in the Philippines. He maintains a couple of blogs where he shares his views on various topics that he finds interesting. A self-confessed introvert who's mostly active in social media, Fjordz also loves to travel and explore the wonders of the world.
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this cant be implemented.. first of all we use our fingers in holding many things therefore our finger prints are left almost in anything we hold.. with skills and right equipment they can copy the finger print and therefore access ur bank account..
As amazing as it is, what if my sisters cut my thumb just to access my bank accounts? Kidding, of course.
This sounds very convenient so I’m hoping that banks would also consider and would come up to such idea as part of stepping up.
i agree with this, safety and security, aside from you will not experience the dreadful anxiety because you will always think of being rob my somebody it makes the payment more efficient and accessible. all you have to do is have a cellphone, or perhaps internet where you can transact payment to:) as easy and fast as email:)
Good idea! 🙂 I wish banks (and government agencies) would really allow us to use our fingerprints for transactions and identity validations so we can ultimately get rid of the many bulky cards we should carry all the time.
if this were implemented, it would minimize fraudulent use of credit cards or atm cards.. why all you need is your finger! hehehe..
this is amazing…