FAQ - Frequently Asked Questions - Biyo Point of Sale and Wallet
(315) 325-0050

FAQ

Merchants (3)

What are your processing fees?

Our guarantee is that we’ll either match your current rate or beat it. Credit card processing fee structures are often confusing (and made to be that way to trick merchants into thinking they’re getting a good deal). Biyo uses interchange plus, meaning that we simply take the wholesale fee charged by Visa, Mastercard, etc. and add a small margin.

Can I see my customers’ information?

Customers user their phone number only as a second factor of authentication, you will not be able to access any information except transaction details for your business, such as date and time, signature info, payment method etc.

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Palm Vein Recognition (3)

What is palm vein pattern recognition?

Palm vein pattern recognition uses harmless near infrared light (think TV remote) to capture the pattern of veins in your palm. The technology looks for flowing blood, and is not affected by cuts or dirt on the palm to get an accurate reading. Furthermore, the sensor is contactless to ensure optimal hygeine. Palm vein patterns are secure because you can’t leave traces of your palm vein patterns like you can with fingerprints, and recreating a hand with flowing blood is practically impossible (not to mention creepy).

How accurate is palm vein pattern recognition?

The acceptance rate for a scanned palm vein pattern is 99.99992%. We use your phone number as a second factor of authentication to make sure that your data is safe. Think of your phone number as your username, and your palm as the password. You won’t have to worry about people creeping over your shoulders to steal your payment information.

What if someone cuts off my hand?

Firstly, we really hope that this won’t ever happen. However, even if someone, somehow, got away with sneaking a chopped off hand into any store, they wouldn’t be able to use it at check-out due to a lack of blood flow in the severed hand.

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Privacy (2)

Where is my sensitive data stored?

All payment information is stored with the Bank/ISO in an encrypted vault and is never sent to the terminal. We use tokenization to protect your sensitive data and retrieve payment information without exposing or sending credit card numbers. Your biometric data and profile data are encrypted using a private key and stored on separate, secure Amazon cloud servers using SSL and AES-256 bit encryption.

Who has access to my sensitive data?

We take privacy very seriously. No sensitive profile information will ever be shared with any other user or merchant without explicitly opting in. Merchants will only have access to transactions that took place in their stores, and includes necessary relevant info such as payment method (last 4 digits of credit card), transaction time and date, etc.

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Security (2)

What is palm vein pattern recognition?

Palm vein pattern recognition uses harmless near infrared light (think TV remote) to capture the pattern of veins in your palm. The technology looks for flowing blood, and is not affected by cuts or dirt on the palm to get an accurate reading. Furthermore, the sensor is contactless to ensure optimal hygeine. Palm vein patterns are secure because you can’t leave traces of your palm vein patterns like you can with fingerprints, and recreating a hand with flowing blood is practically impossible (not to mention creepy).

How secure is my data?

Security is our number 1 priority. We use an intricate system of encryption and verification to make sure that no one gets access to your data. We’ve partnered with Global Payments to secure credit card information on separate servers, and all biometric data is doubly encrypted before being passed with SSL.

[Read more about security]

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