Shinhan Card tests Face Pay
Korea's Shinhan Card group has begun testing a facial recognition-based payment system within the company's canteen and onsite convenience store.
After registering their credit card information and taking photos of their faces, employees can ditch their wallets and instead use facial recognition kiosks to pay for their purchases.
The card company is working with CU convenience store operator BGF Retail to bring the system to market at universities and other unmanned CU store locations.
In China, where face pay is a growing phenomenon, Alipay has devoted R&D to the creation of 'beauty filters' to encourage more uptake among the 60% of consumers who shy away from the system because they think it makes them appear ugly. And statistics say the story as well. On 2018’s Singles’ Day in China — the equivalent of Cyber Monday and Black Friday in the US, combined — 60% of shoppers paid by taking a selfie or with a fingerprint scan.
The future is now!