Phoenix Check Cashing Inc. said Monday that more than 5 million consumers have enrolled in its biometric payroll authorization system.
Consumers who enroll in the Herndon, Va., company's BioPay Paycheck Secure system must provide a photo ID, biometric scans of two fingers, and consent to be photographed. After enrollment, they can use their fingerprints to identify themselves when they want to cash their paychecks.
The biometric authorization system "enhances the check-cashing experience for the underbanked and provides merchants with key data to make informed decisions on financial transactions," Jon Dorsey, Phoenix Check Cashing's chief executive, said in a press release.
Phoenix is run by several veterans of BioPay LLC, a biometric payment company that sold itself to a rival, Solidus Networks Inc. in 2006.
The BioPay system was purchased back from Solidus, which ran the Pay by Touch biometric payment system, earlier this year after Solidus fell behind on payroll, rent, and other obligations and filed for bankruptcy protection.