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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 […]
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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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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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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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