The students who take part in the “Start-Up SPbU” are working on an innovative secure electronic payment system to secure your personal data during money transactions on-line.

The world is opting for e-commerce. How to secure e-payments? SPbU students have found a solution – a fingerprint, a unique pattern of whorls and lines on the fingertips.

— Our device scans fingerprints and generates a unique key during an on-line transaction with an electronic wallet, — said the head of the team Artem Mikhailov. — As soon as the transaction is complete, the key is deleted and, if necessary, will be generated again based on the unique pattern of human fingerprint of a user. The key is not stored in the device memory, which makes it impossible to lose or hack it.  It is a big advantage over the current devices.

The team is developing an algorithm to process an image of fingerprints. The algorithm to generate a unique key by scanning fingerprints is a breakthrough in the world of science.

The team focuses on two areas: engineering and economics. Engineering sector is developed by Aleksandra Demchenko (Medicine) and Mikhail Ivanov (Chemistry), who are responsible for the design and technical development. Kirill Lazarev (Economics) and Egor Kiselev (Economics) focus on marketing analysis, business plan and financial model. The team is headed by Artem Mikhailov (History) who coordinates and manages the work of the team, how to obtain a patent for their invention in particular.

The team “Encryptify” has successfully passed the first round and is planning to present a final version of the device in May.

— If everything goes right, at the final stage of the competition we can make an on-line transaction by our device, — said Artem Mikhailov.