It is finally here! Secure continuous biometric authentication in practice. Thanks to Nymi, TD and MasterCard we have the first wearable payment using cardiac authentication. It is a first pilot project underway in Toronto, Regina and Ottawa.
Nymi's first product - the Nymi Band - is a wearable device that delivers biometrically secured, continuous authentication experience. The Nymi Band utilizes HeartID - a proprietary technology that leverages the wearer's unique electrocardiogram (or ECG) as a biometric identifier. This identifier is unique to each person and therefore can act as a means of authentication. The Nymi Band’s HeartID technology was used in collaboration with NFC technology to process a TD MasterCard payment on a Tap & Go contactless payment terminal.
Karl Martin, Nymi's Founder and CEO said, "Nymi's goal is to fundamentally change the way authentication is treated and to move industries towards a more secure and convenient identity model. By working with partners like TD and MasterCard, we are effectively demonstrating that continuous authentication can be a more secure and convenient way to make retail payments." "Over the past several years, TD has improved the customer experience by introducing a host of innovative digital enhancements allowing us to better address customer needs," said Chuck Hounsell, Senior Vice President, Payments, TD. "Working with Nymi's secure, customer authentication technology is an example of how TD is exploring new and innovative ways of bringing the next level of convenience to our customers."