As a mechanism for payment, the credit card remains just as hardy as ever. It has so far defied the threat of mobile phones, and less plausibly, QR codes, among many other forms of payment.
One YC-backed startup is betting that fingerprints and other forms of biometric identification may be the payment method of the future though. Called PayTango, they’re partnering with local universities to offer a quick and easy way for students to use their fingerprints to pay instead of credit cards.
The four-person team is basically almost fresh out of Carnegie Mellon University. The co-founders, Brian Groudan, Kelly Lau-Kee, Umang Patel and Christian Reyes, graduating later this summer and have experience in human-computer interaction and information systems.
They built an initial prototype with a fingerprint scanner and credit card reader with off-the-shelf parts for between $1,500 and $1,700. They’re bringing the costs down after iterating on it…
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