Singapore is slated to begin using a biometric payment system in schools by early 2018.
The biometric payment system is called Touché, a new feature under the POSB Smart Buddy programme. As of now, the programme allows primary pupils to pay school fees, handle their money and do some other functions through a POSB smart watch.
With Touché, students will be able to pay in-school fees through their fingerprints scanned on sensors without ever needing the watch. Students have to register two fingerprints on sensors which will be connected via the POSB Smart Buddy programme to their parents' account.
Touché is part of Singapore's Smart Nation campaign under the Minister for Education. Although it is only an option, use of cards, cash, mobile wallets and watches are expected to be drastically cut down once the new payment system is in full swing.
On parents' part, Touché will be a huge help to monitor their children's spending.
In the meantime, Singapore authorities have ensured the security of the new system by using FBI-certified biometric sensors, which can scan up to 45 unique points from each registered finger.
Through encryption, fingerprint information will be safeguarded in a cloud database. Add to that the anti-spoofing technology to help verify genuine fingerprints and the presence of a registered student.