Fintech and cyber security startup HyprKey has announced it will exhibit its biometric mobile wallet app, the HYPR-3, at the 2015 International CES conference to be held in Las Vegas.
HyprKey will be exhibiting its patent-pending HYPR-3 biometric mobile wallet app, an innovative product operating on a three-factor authentication protocol aiming to provide maximum security for mobile payments. According to the company, HYPR-3's open protocol for biometric authentication aims to end fraud by allowing users to use three-factor authentication seamlessly.
First, users authorize payments with their fingerprint by swiping an adhesive biometric, which unlocks an encrypted token generator. The encrypted token is instantly transmitted to the user's pin-locked mobile device via Bluetooth. Finally, the mobile device transmits the request as a one-way beacon to the cloud, authorizing the transaction made by the digital wallet.
"As technology increasingly transforms commerce, the payments landscape is poised to benefit from security and efficiencies," said HyprKey CEO George Avetisov.
"HYPR-3 is a biometric authentication platform we expect to gain prominence as a direct result of showcasing its functionality, which includes the ability to spend digital currencies such as Bitcoin through auto-conversion.
"The capability of safeguarding user accounts like bankcards behind an impenetrable key goes beyond payments, and we expect significant interest from enterprise level partners."
HyprKey's executive team will demo the HYPR-3 biometric sticker through in-person demonstration, said the company in an announcement. The startup is looking to meet with potential partners at this particular event and take white-label orders during the 2015 International CES regular show dates of January 6 to 9, 2015.
The 2015 International CES conference is a two-day event focusing exclusively on the business of apps and consumer technologies held each year in Las Vegas, owned and produced by the Consumer Electronics Association. This year's theme is "Discover. Acquire. Monetize." and will feature products and companies from various consumer technology markets, including 3D printing, automotive electronics, robotics and wearables.
Did you enjoy this article? You may also be interested in reading these ones:
Follow Cointelegraph on Facebook