Biometric payment system provider PopID recently announced that its PopPay solution is now used by more than 100 different restaurant and retail brands on college campuses in Southern California.
According to the company, the rapid growth in adoption has been driven by the success of PopEntry, a biometric access control system the company has deployed in student housing.
“Students first sign up for the PopID service in order to enter their homes without needing a key card,” said Yale Goldberg, COO of PopID.
Once these students learned that they could use the same service to purchase food and other goods without having to pay on the day of purchase, they began to see PopPay facial recognition as a means of payment. more convenient and more financially flexible.
“Students who repeatedly use the service receive more capital, which helps them better manage their cash flow and avoid overdraft charges on their debit cards,” Goldberg added.
Based on the success of these biometrics pilot projects, PopID said it will now scale up its rollout of PopEntry and PopPay across the country over the next 18 months, fueled by additional $ 10 million in funding raised during a series B cycle.
The funding round, which PopID revealed closed earlier this summer, included contributions from the Cali Group, the Wasserstrom company and Softbank’s subsidiary Japan Computer Vision.
“The PopID system is incredibly easy to enroll and makes face-based transactions for faster and more convenient entry and payment,” said Andrew Schwabecher, CEO of Japan Computer Vision Corp, who invested in PopID earlier this year. year.
“We are excited about the future and the opportunity to expand the system internationally. “
access control | biometrics | consumer adoption | contactless | facial recognition | financing | investment | payments | PopID | students