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ABSTRACT:
Rich Farrell walks into his neighborhood Piggly Wiggly grocery store in Mt. Pleasant, S.C., picks up a couple ofbottles of red wine and heads to the checkout line. A sticker on the counter advises, somewhat enigmatically: "The finger is faster. Pay By Touch."
Farrell does just that. When his $29 purchase flashes on the register, he punches in his phone number on the VeriFone credit authorization machine, selects to pay using his checking account and then presses a finger on his right hand onto a small screen. In a couple of seconds, a server in a data center in San Jose, Calif., verifies Farrell's identity, deducts the payment from his bank account and credits the purchase to his Piggly Wiggly loyalty program. Then Farrell walks away with his wine. No fumbling with a wallet, digging for cash, looking for a loyalty card or signing a credit card receipt.
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AUTHOR:
Michael Ybarra
Contributing Writer, CIO Decisions
Michael Ybarra is a contributing writer for CIO Decisions.
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