Cash Technologies Inc., maker of the CoinBank self- service coin counting machine, said it has begun work on electronic commerce security using Sensar Inc.'s iris recognition technology.
The biometric system would be combined with Cash Technologies' EMMA transaction processing software. The aim is to allow Internet shoppers to complete transactions at Sensar-equipped locations without having to enter personal identification numbers.
To overcome consumer resistance to virtual shopping, "it is imperative that we provide a more secure, convenient way to buy products over the Internet," said Cash Technologies chief executive officer Bruce Korman. "For the first time, consumers will be able to buy all they want on-line, with traditional credit cards or even ATM cards, with peace of mind, knowing their transactions are 100% secure."