Reuters says that a start up firm named Bionym has won an experimental trial with MasterCard and the Royal Bank to see if the heartbeat is distinctive enough to be used to verify a business transaction. Bionym’s product is a bracelet called Nymi which would somehow verify the identity of the purchaser by using his or her cardiac rhythm. The process is designed to eliminate the need for passwords, pin codes and even keys. The trial will allow Royal Bank (RBC), Canada’s largest bank, MasterCard and customers using the technology to test electrocardiogram-authenticated payments before the end of the year, Bionym said in a statement on Monday.
