With $4.2M in seed funding and a focus on privacy-first, contactless checkout, this Latvian startup aims to bring biometric palm payments to everyday retail across Europe.
The Rise of Palm Payments in Retail
Biometric palm payments, once the stuff of science fiction, are quickly becoming a reality — and not just in Amazon-owned stores. While Amazon One has already been used over 8 million times, it’s largely limited to Amazon’s own ecosystem.
Enter Handwave, a Latvia-based fintech startup that’s building an independent, privacy-focused palm payment platform for third-party retailers across Europe.
- Like Apple’s Face ID, Handwave uses palm vein scanning with liveness detection — making it both secure and contactless.
- The startup is focused on retail checkout, but its tech could also extend to age verification and loyalty programs.
A European Counterpoint to Big Tech
Co-founders Janis Stirna and Sandis Osmanis-Usmanis, both alumni of Worldline, one of the world’s largest payment providers, launched Handwave to give retailers a non-Big Tech alternative.
- European regulatory compliance is baked into their design, positioning Handwave to scale globally.
- Their partnership with Visa is expected to accelerate deployments across multiple countries.
“Starting in the EU — the strictest market in the world — gives us credibility and builds trust,” says Chief Revenue Officer Oskars Laksevics.
Built In-House, Priced to Compete
To gain adoption, Handwave had to do more than build a secure solution — it had to make it cost-competitive.
- The team developed its own hardware and algorithms in-house, significantly lowering the cost per device.
- Compared to Amazon’s palm scanners, Handwave claims better affordability and no need for platform lock-in.
Retailers pay a transaction fee that Handwave says will be on par with or lower than standard card processing. That, combined with faster checkouts, could improve both cost efficiency and customer satisfaction.
Backed by a Strong Baltic Ecosystem
Handwave’s growth has been fueled by a combination of bootstrapping, EU grants, and now $4.2 million in seed funding.
- The seed round was led by Practica Capital, with participation from FirstPick, Outlast Fund, and Inovo.vc.
- Previous funding included a $780,000 angel round and $267,000 in non-equity EU grants.
By building in Riga, Handwave has benefited from lower operational costs and access to world-class AI talent.
“In the Baltics, there aren’t many startups offering this level of technical challenge,” said Stirna. “That’s helped us attract top engineers without Silicon Valley salaries.”
What Sets Handwave Apart
- Privacy-first design: No facial or fingerprint data, and no personal information stored on the device.
- Modular software platform: Designed to integrate easily with existing payment and POS systems.
- Open ecosystem: Unlike Amazon One, Handwave aims to collaborate with any acquiring bank or financial institution.
The startup is now preparing to launch its first market pilots and finalize regulatory certifications needed to scale further.
Will Retailers and Shoppers Wave Back?
Palm payments are still new territory for many consumers — but Amazon has helped normalize the gesture in U.S. markets. Handwave is betting that retailers outside Big Tech’s reach want an alternative that is both compliant and cost-effective.
“We’re not just building a device. We’re building a next-gen global payment platform,” said Laksevics, who left a senior post at Luminor Bank to join the team.
As Handwave rolls out across Europe, it may have a shot at becoming the go-to palm payment system for independent retailers — and maybe even giving Amazon One a run for its money.
