• Facial recognition, a new way to pay
12
Sep

Facial recognition, a new way to pay

From merchandise as money to fiduciary money, one might have thought we’d seen all the payment methods. This could not be further from the truth, and innovation is actually accelerating in the field, in no small part linked to technological evolutions: from the worldwide success of Paypal, to the success of NFC payments from smartphones (Apple Pay…), and of course credit cards (+112%, reaching 6.2 billion euros in transaction in 2016, according to ZDN). The next step? Payments using facial recognition. The 1st payment was made in the Chinese People’s Republic, more precisely at a KFC in Huangzhou. By ordering from an automated terminal equipped with a 3D camera equipped with the « Smile to Pay » feature offered by Alipay (the payment arm of e-commerce giant Alibaba), one can pay with a simple selfie. With close to 500 million users of the Alibaba platform, the Alipay service could spread fast. In the West, Mastercard and Amazon are said to be in the starting blocks to offer a similar service, with apparently high reliability… according to this video.

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