It’s time to say goodbye to the QR code and prepare to enter the era of face recognition.
Imagine that when people go to the supermarket, they pay without their mobile phones or wallets. Just smile at the camera in registration desk, verify your ID, and then authorize your account to pay the fee. It’s done in a few steps.
To most people in the world, this may sound crazy. However, facial payment has been popular in China for many years. China is also leading this new trend, which is logical because China has long been a world leader in mobile payments.
TechwireAsia mentioned that customers only need to pose in front of a camera-equipped point-of-sale (POS) machine and connect their facial photos to a digital payment system or bank account to conduct transactions in China. China’s mobile payment is one of the most advanced payment methods in the world.
According to their report, “In 2019, about 1,000 convenience stores in China installed facial payment methods, and more than 100 million Chinese registered to use the technology. Payment services operated by e-commerce giant Alibaba Group Alipay and Alipay Its main competitor Tencent (the company’s WeChat Pay has been driving this trend.
Whether this trend will extend to other parts of the world, China’s facial care is developing well, making people feel normal. Or the question is, “Is the earth ready for facials?”
Pros and Cons of Face Recognition Payment
These benefits provide a higher security standard than other security tools for payment through biometric authentication. As with crimes committed by other forms of payment systems, this is almost hard to break. Another benefit is that facial payment technology is relatively easy to integrate into current payment systems. Since this technology does not require any touch or machine, it is faster, simpler, and more versatile than mobile payment or fingerprint verification.
This is a straightforward operation. The entire transaction can also be fully automated to increase productivity and reduce friction, improving the customer experience.
However, there are many disadvantages to consider. First, a lot of data needs to be stored, protected, tracked, and processed. Moreover, with the continuous improvement of image size and quality, face recognition still has a long way to go. To ensure that people know how they must pose for screening purposes, the detection angle is essential. With coloured glasses, lenses, and beards, such problems may arise.
When many customers are interested in using biometric technology to shop, they begin implementing a facial recognition payment system. A recent study showed that half of the respondents prefer biometric payment solutions than other forms of emerging payment technologies.
Therefore, face recognition will change the world of digital payment. Customers can make purchases through this advanced innovation without any cash, bank card, or smartphone. As more and more industries (such as automobiles, banking, and healthcare) strengthen facial recognition, this technology will rapidly develop soon to replace traditional digital payments. It’s time to say goodbye to the password and prepare to enter the era of face recognition.