Orang Dialameh, co-founder and CEO of ExtoLabs, announced on his LinkedIn page that ExtoLabs plans to launch ExtoPay, a biometric card system that consumers or businesses can use even without a smartphone or Internet connection.

The CEO wrote that the system relies on ExtoLabs' distributed ledger technology, offline protocols, and hardware and software wallets to provide consumers with free payments and reduce transaction costs for merchants to a very low and affordable level .

The CEO said that the upcoming ExtoPay is a disruptive digital payment solution that is compliant, can ensure data privacy during third-party transactions, and is expected to promote financial inclusion, especially in emerging markets.

At the same time, a demo video that provides an overview of ExtoPay explains how the payer and payee use fingerprint biometric cards to influence instant transactions or arrange transactions.

The video pointed out that the ExtoPay solution is the result of three years of serious work by an interdisciplinary team composed of experts from different fields, including rural payment, financial technology, RTGS systems, distributed systems, biometrics, cryptography, compact -Type hardware manufacturing and ultra-low power system-on-chip. The card was launched as a wallet in October last year, equipped with a fingerprint card sensor.

The demonstration stated that ExtoPay can connect with payment and banking systems through APIs to provide new digital currency solutions and a secondary retail CBDC platform. The Interledger layer allows wallet holders who own one bank to conduct transactions with wallets issued by another bank.

Users can also join ExtoPay through scanned photo ID, facial recognition matching and biopsy. After completing this operation, the customer registers his fingerprint biometric information on the card. For deviceless access, this is done on the proxy card, and they set a backup PIN. The user ID then logs in using the cryptographically verifiable credentials loaded on the consumer's wallet, and the user can control the data shared with the counterparty. According to the demonstration, users can recover their lost wallets through a similar Know Your Customer (KYC) process.

Users without a bank account can use connected agents and merchants to cash out or cash out.

At the same time, ExtoAfrica, a subsidiary of ExtoLabs, stated that it is bringing its secure, easy-to-use, and cost-effective payment, marketing and digital identity solutions to Africa to advance its vision of financial inclusion. Dialameh also pointed out that ExtoIndia is expected to be launched soon.

ExtoLabs also produces ExtoWallet, a mobile device-based solution that uses biometric smart cards to provide security protection for encrypted assets.

Biometric Card | Biometrics | ExtoLabs | Alipay | Fingerprint Sensor | Payment | R & D | Secure Transaction

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