No more lugging your wallet everywhere. Currently, several Chinese chain stores are accepting facial recognition as a new payment system. Let’s see how it works.
Facial recognition payment systems have been devised by Tencent Holdings and Alibaba Group. The principle is to no longer use banking applications or vending machines to shop.
With more than one billion three hundred million people, China is the first on the ranking of the most populous countries in the world and represents for the technology companies a major market to conquer and not to lose.
On the economic front, the large number of Chinese consumers makes it not uncommon to end up with long queues in supermarket places. However, the payment systems of Tencent, WeChat Pay, and Alibaba, AliPay, now provide an innovative and fast solution to prevent Chinese consumers from queuing.
Thus, it is for example currently possible at Carrefour Zhongshan, in Shanghai, to pay at the automatic cash register, simply with his face, to save a lot of time!
Indeed, Carrefour supermarkets in China are currently equipped with facial recognition payment systems. There is a screen with two small bullet-shaped cameras that will do facial recognition of the customer, who must first be registered by the system, and then the screen shows the amount owed by the customer for his purchases. It only remains for the customer to enter the last four digits of his phone number on his payment terminal WeChat Pay or AliPay and his shopping is done.
This technological and economic innovation has been tested for two years in China and it is now attracting more and more commercial brands. This is the case, for example, of 300 Wedome bakeries in Beijing, several KFC restaurants and hyperconnected Hema stores in Alibaba, that have decided to adopt these new payment systems.
Carrefour estimates that by 2022, these new payment systems will account for 20% of payments …