A few years back, there were long queues at the immigration counters in airports all over the world. However, today there are no passport stampings in most International airports – immigration has become solely based on facial recognition – walk into the cubicle, look up to the camera, on verification, simply walk out! Just a matter of few precise steps. This is the technology of face recognition that has become the frontrunner in the technological races
Facial Pay
Facial pay has been popular in China for many as it has long led the world in mobile payments. Customers can make any transaction in China, simply by posing in front of point-of-sale (POS) machines fitted with cameras, after connecting a picture of their face to a digital payment system or bank account. Alipay, the payment service operated by e-commerce giant Alibaba Group, and its main rival, WeChat Pay from Tencent, have been leading the trends.
This trend is not much far from being adopted all over the world. Face recognition is the future of the world, given its simple usage and easy accessibility although the technology itself is highly complex in nature.
Boons and banes
Every technology has some glitches at different points of time which arise either due to the usage or due to some other issues. A few are mentioned below:
Benefits:
· higher security standards than other security tools for payments via biometric identity verification.
· lower cybercrime–potential
· the technology for facial payment is relatively easy to incorporate into a current payment system.
· technology does not need any touch or machine; it is faster, simpler, and versatile than other modes of payment
Facial recognition and related operations are highly precise operations. The entire transaction can be automated for greater productivity and decreased friction thereby enhancing the customer experience.
Drawbacks:
· large data quantity to store, secure, track and handle.
· as the image size and its quality continue to progress, face recognition can be difficult.
· the detection angle is essential
Customer Preference
The implementation of a facial payment system comes when most customers are interested in making purchases using biometrics. A study reveals that most respondents prefer biometric payment solutions over other forms of payment.
Thus, facial recognition is set to change the world of digital and biometric payment. Customers can purchase without any cash, bank card, or smartphone with this stellar innovation. Facial recognition has been incorporated over a number of sectors such as automotive, banking, and healthcare and is expected to replace conventional digital payments. It is time to enter the age of face recognition.
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