“The new FacePay platform “enables more convenient payments in merchant locations and faster (withdrawals and transfers) in Access Bank branches,” the publication explains .”
On The Web
nbsp;In China, Paying With Your Face Is Hard Sell
“Ant Group Co., which revolutionized China’s payments industry , is learning how hard it is to separate people from their mobile phones. Three years ago, the financial-technology giant controlled by billionaire Jack Ma embarked on an ambitious and costly effort to install facial-recognition devices at retailers that would allow people to make payments by smiling […]
Face Verification Technology to Allow SingPass Holders to Sign up for DBS Digital Banking Services Using a Selfie
“SingPass holders will be able to sign up for DBS’ digital banking services by taking a picture of themselves through the use of face verification technology, following a rise in digital banking amid the COVID-19 pandemic. The pilot programme aims to benefit more than 1 million DBS customers who are SingPass holders and do not use […]
CaixaBank Rolls Out Facial Recognition ATMs Across Spain
“Spain’s CaixaBank is to deploy ATMs equipped with facial recognition technology nationwide “with the goal of offering a better user experience and greater security in transactions, particularly in the context of Covid-19”. “The system is the first launched by a financial institution on a global level that allows users to withdraw money by simply recognising […]
China Publishes Face Recognition Payments Guidelines
“The Payment & Clearing Association of China (PCAC) has published a set of guidelines that regulate how payments providers making use of face recognition to process payments at the point of sale (POS) should manage the protection of consumer data. The guidelines “cover user consent and the collection, storage and use of facial data,” Regulation […]
CULedger Completes Blockchain Identity Pilot With Three US Credit Unions
“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds […]
Osaka Metro Unveils Ticket Gate With Facial Recognition Tech | The Japan Times
“Osaka Metro Co. on Tuesday started testing a next-generation automated ticket gate featuring a facial recognition system. The subway operator aims to introduce the gates at all of its train stations by fiscal 2024, ahead of the 2025 World Expo in the city of Osaka. The test involves around 1,200 Osaka Metro employees. According […]
Nets Launches Facial Recognition Pilot in Copenhagen Office Park
“Nets, a European digital payments firm, is launching a trial of facial recognition for payments for up to 1,000 office workers in Copenhagen. The program will allow up to 1,000 people working at 25 companies at an office community in Vibenshushet to link their face to an employee ID card and pay for their lunch at […]
Pay With Your Face System Coming to Canada, but Not Everyone Is on Board
“China has among the fastest rates of adoptions when it comes to non-cash payments. According to a 2018 McKinsey report, 40 per cent of in-person spending in China was through mobile digital wallets. The report said that China alone will generate half a trillion dollars in net new annual payment revenue by 2022. However, the […]
On The Wires
nbsp;Restaurants & Retailers in Pasadena Establish Nation’s First Pay-by-Face Network
“With California imposing strict restrictions to stem the spread of COVID-19, a number of restaurant and retail store owners in the city of Pasadena have quietly established the nation’s first dense “face-pay” network. These small business owners have embraced an advanced facial recognition technology that lets their customers make secure, hands-free purchases using only their faces.”