Do you have cash? This is ancient in the age of digital step-up. The introduction of digital wallets, UPI, and cashback have reduced the cash in our wallets. Moreover, today I saw an e-rickshaw driver having his Paytm QR code for payment in case a passenger says they don’t have Rs 10 in cash. We have surely progressed!
Now think, what if you don’t have to use your internet and fingers to type your 4/6 digit UPI pin to pay. Rather you pay just by showing your face. How does it sound? Fascinating! Don’t dream because China is already there.
With its rapid advancement, China has amazed us again. Following the same trend, China has introduced a facial payment procedure. Yes, you read it right! No mobile, no cash and whose talking about wallets(smirk).
Though the Chinese online payment is way ahead of the world this is ─ face recognition─ is a next-level thing. However, the question is, how does the set-up work?
The set-up is a basic one. The customers purchase their product by posing in front of the point-of-sale(POS) machine equipped with the camera. The camera will capture their image and will match it with the image which has been linked with the digital payment system or their bank accounts.
The software is often used, to monitor citizens — it has been credited with nabbing jaywalkers and catching criminals.
Alipay will spend three billion Yuan ($420m) over three years on implementing the technology.
Think what an easy way this is for everyone. Your face is your wallet! Man, China has provided a different dimension to the digital set-up. Isn’t it great that your face is your currency! Have a say.