Making debit payments possible with only a signature, that’s what Sign2Pay was designed for.
New to signature paying? Start off by filling out your name, email address and bank account number (IBAN) in the form. You will then see a signature canvas that lets you sign your signature, using your index finger. To authenticate your signature, you will be asked to repeat the gesture three times. Done? Congratulations, you are now all set! The next time you want to pay all you need is your signature. It’s that easy!
We have developed a proprietary biometric signature analysis technology, that looks at how you sign your signature on a screen. Everyone’s signature looks a little different every time, but you don’t need to worry about that. Our machine learning algorithm looks at the way you put your signature on your touchscreen, taking into account different parameters such as speed, acceleration, direction, touch points and even the device you’re using.
Biometrics are generally classified into two categories: physiological (fingerprint, face recognition and, iris scans, …) and behavioral (voice, typing rythm and , gestures, …). While physiological biometrics are great for identification purposes, they’re not very useful for authorization.
A key advantage of behavioral biometrics is that they are cancelable and can be re-issued. Unfortunately, security breaches have become a part of our online lives. Usually, changing your password is all what’s required to mitigate any risk of having your account compromised. This is unfortunately not the case with physiological biometrics, you can’t cancel your face or re-issue a fingerprint. Our signature technology provides the advantages of biometric analysis with the security benefits of cancelable biometrics.
According to the most recent EU data, 84% of citizens have a current bank account while only four in ten have a credit card. Our payment technology leverages the Single Euro Payments Area where more than 500 million citizens and over 20 million businesses can make and receive payments in euro under the same basic conditions, rights and obligations, regardless of their location.
Using our technology, customers can legally sign a SEPA direct debit mandate, enabling us to facilitate the payment between the merchant and consumer. Consumers are protected by an eight week refund right in case the product or service didn’t get delivered, while Sign2Pay guarantees the payment to the merchant.
To increase transaction security even further, we have taken best practices from the credit card industry and applied them to our own technology. Thanks to our tokenization technology, bank account details are never stored by the merchant. Instead, we provide a token that can be used for a one-time or recurring payment. This provides increased security for both merchant and consumer.