For Quick Alerts
For Daily Alerts

Chinese Shoppers Can Now Use Their Face To Make Payments From Bank Accounts

By Staff

China's digital payments have advanced to another level. Shoppers do not need to carry any cards or even their smartphones to make payments at merchant outlets. With face payment technology, they simply need to nod in front of the point-of-sales machines that are equipped with cameras and make their payments.

Chinese Shoppers Can Now Use Their Face To Make Payments From Bank Accounts

However, according to researchers interviewed by Agence France-Presse, this technology, which has been widely adopted by the Chinese government, could be misused by the state for their surveillance purposes to monitor and control citizens by tracking their social information.

Despite the data privacy concerns, the technology is being widely adopted by consumers in China. Alipay, the financial arm of the e-commerce company Alibaba, has equipped the technology in devices across 100 cities.

Alipay sees enormous growth potential in the sector and will be spending 3 billion yuan ($420 million) over three years to implement the face payment technology. It recently upgraded its "Smile-to-Pay" system to use a machine that is almost the size of an iPad. Tencent, the makers of WeChat app also launched their facial payment machine last month. More players are looking into tapping the growing industry in China.

Those in favour of the technology say that facial payments reduce time spent standing in queues at a cash counter in the supermarkets and is safer than cards as it does hold the risk of stealing the PIN entered on POS machines.

Read more about: china digital payments
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more