Payments News
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Security

CaixaBank, the world’s first bank to use facial recognition to withdraw cash at ATMs

“CaixaBank has become the world’s first financial institution to offer its customers the ability to use facial recognition to withdraw cash from ATMs, without having to enter their PIN. The company, with Jordi Gual as Chairman and Gonzalo Gortázar as CEO, presented the system today in Barcelona, in an act that entails the commercial launch of the service for […]
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Security

Using Smartphones to Pay? That’s So Yesterday in China

“Chinese technology giants have leapfrogged U.S. companies in popularizing mobile payments. Now, they are trying to get people to bypass their smartphones and make payments by simply looking into screens. Ant Financial Services Group and Tencent Holdings Ltd. TCEHY 1.47% , rivals that operate, respectively, Alipay and WeChat Pay, China’s two largest mobile-payments networks, are competing […]

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Security

China’s first facial recognition payment-based shopping street opens in Wenzhou

“A historical shopping street in Wenzhou City, Zhejiang Province, has become the first in China to extensively apply facial recognition in making payments. The government in Wenzhou, a city known as the country’s cradle for private entrepreneurship, has joined with Ant Financial, operator of China’s biggest online payment platform Alipay, and e-commerce giant Alibaba through an […]
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Security

Facial Recognition Goes Mainstream, Drawing Concerns

“Facial technology can now be found in more schools and retail stores to help identify people who may pose a security risk. Some stores are also using facial recognition in an attempt to determine shopper sentiment, giving retailers the opportunity to adjust their sales pitch. One company in Israel claims its software can flag potential […]
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Security

In China, QR Codes Are Being Replaced by Face Scans for Payments

“In different cities around China, merchants from supermarkets to bakeries have adopted facial recognition payments technology from Alibaba-affiliated Ant Financial and Tencent’s WeChat Pay to make the payments process as frictionless as possible. Alibaba owns the South China Morning Post.    Why? Because face recognition technology brings the next step in payments convenience for consumers and also […]