Payments - May 15, 2017

Next Big thing: Facial Recognition in Payments

Be ready to pay for your next coffee by an account/card linked to your face. Yes, that reality is likely to be the very next evolution in the individual payments space. The technology behind face recognition has evolved to a great extent, and it can now be securely used for financial transactions.

France-based Safran demonstrated technology that can use the existing card payment networks to replace the credit card pin with the more secure and graceful facial recognition. This will virtually help us get rid of the task of remembering card pins.