Payments News
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On The Web

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Security

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 […]
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Global

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 […]
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Global

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 […]
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Regulation

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 […]
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Security

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 […]
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On The Wires

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Security

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.”