A biometric vending machine for dispensing legal cannabis

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Spotted: The American startup PopCom is working on a vending machine that would allow the legal purchasing of government-regulated items. So, alcohol, medication and cannabis vending machines could be around the corner.

“There are definitely infinite possibilities,” PopCom CEO Dawn Dickson told Columbus Business First. “My No. 1 focus now is getting the product out and showing the world what we already know – that it works and will be very disruptive to the automated retail industry.”

PopCom is upgrading its existing automated retail system that already uses facial recognition and supports payments using biometrics and blockchain. The new version will use smart contracts and enhanced biometrics and blockchain technology to allow for compliant and secure payments. It has raised over £983,000 — reaching the maximum allowed through equity crowdfunding. There are plans to pilot the new system at the end of this year with machines that dispense cannabis and pharmaceuticals.

Takeaway: By 2023, roughly 2.6 billion people are expected to be using biometrics for payments, according to Goode Intelligence. This is being driven, in part, by growing demand for frictionless authentication and a reduction of payment fraud. A study by GlobalData showed that 16 percent of consumers have fallen victim to payment fraud, and 67 percent are fine with using biometrics to enhance payment security. As consumers become more comfortable with using biometrics for payments, opportunities should continue to open up for startups like PopCom to disrupt the automated retail industry. Springwise continues to spot the use of biometrics to secure transactions, including Apple’s new credit card that authenticates payments using facial recognition and fingerprints and a modular security system that protects home deliveries.

Website: www.popcom.shop
Contact: www.popcom.shop/contact

Source: New feed 1