Pay with facial recognition

The Prime Minister also approved the project of developing non-cash payments from 2021-2025. Responding to this project, not only credit institutions but also businesses and payment intermediaries apply technology and strong digital transformation, including payment by credit card. face recognition.

No cash, no card, no QR code scanning phone, no contact… Just a few seconds before the face recognition machine, the payment is completed and the money is deducted directly from the linked bank account. It is a payment technology with facial recognition FacePay.

There have been a few banks that have conducted a test and 1 bank has officially implemented FacePay. The number of points accepting payment by FacePay face recognition is now more than 100 points, aiming for transactions according to the criteria of speed, relatively small amount and large number of transactions.

Banks shaking hands with large-scale retail chains, technology solutions providers, to accelerate the spread of this form of payment is an inevitable trend.

Currently, there are about 10 countries in the world that have implemented FacePay and Vietnam is the first country in Southeast Asia to apply it. It is expected that this year, at least 6 banks will deploy this form of payment, with the number of customers accounting for about 60-70% of the entire market.

Go to the market without using cash

VTV.vn – In Da Nang, the model “Market 4.0 – go to the market without cash” has been implemented, bringing many benefits to residents and visitors.

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