No instances of forgetting the PIN and endless wait for getting the new PIN.
Nor the fear of losing the card.
A new software system is on to transact by using your Face!
The problem will be that those who kidnap you need not torture you to part with your PIN.
Probably some one can find that some expressions as the Password and not make it Public.
Story:
You probably already know about payment systems like Google Wallet, which can use NFC technology to let you check out with the swipe of a smartphone. There are also services that use geo-fencing to register when you’ve walked into a store and when you walk out. The latest fad, however, doesn’t require any extra equipment at all—at least none you’d be carrying around. You just need your face. It’s a big, crazy step. But also one we have the tools to start working toward.
At present, there’s a small slew of companies using facial recognition software to handle all kinds of transactions. The work they’re doing has the potential to completely change your daily life, and scare the underpants off of privacy advocates. But companies like Uniqul are mostly counting on the former. This Finnish start-up is on a mission with the stated purpose to create “the world’s fastest payment system,” and this week they launched a novel payments system based on facial recognition.
The elephant in the room, of course, is whether stores are willing to make the massive investment in extravagant facial recognition equipment to use the service, and whether people are willing to let Uniqul file their face away in a database of customers.
The basic premise behind Uniqul’s checkout process is that you should never have to do anything but be yourself when paying for something. No wallet. No iPhone app. Just a smile—or a grimace depending on your mood. You just walk up to the register where a camera scans your face and matches it against the database. “In the background our algorithms are processing your biometrical data to find your account in our database as you are approaching the cashier,” the company explained in a press release. “The whole transaction will be done in less than 5 seconds—the time it usually takes you to pull out your wallet.” The only thing you have to do beyond that is tap OK on a screen
Source:
http://gizmodo.com/you-wont-need-a-pin-when-you-pay-for-everything-with-y-805487185