Can Face ID Be The New Payment Method?
Nowadays, a lot of people don’t carry cash around anymore. One, because of the coronavirus, shops are encouraging us to pay via card. Two, why carry cash around when most shops accept card payments. But, there’s a new trend that is slowly making itself known, and that is facial recognition. All you have to do is look at a camera to confirm your identity and that’s it, your payment has gone through! Sounds rather convenient, doesn’t it?
Facial recognition is a way of verifying a person’s identity using their face. It works by measuring and analyzing a person’s facial features such as facial contours. Nowadays, it’s commonly used for unlocking smartphones and laptops, but it is now also slowly being used as a payment method.
Facial recognition as a payment method has some great benefits. It offers better security through biometric data verification. Because of that, it is nearly impossible for a security breach. Another benefit from facial verification is that it’s easy to incorporate in a system as it does not use machines or touch verification. Plus, it also provides good customer experience because it is more efficient.
But of course, there are always downsides to things like these. With facial ID, too much data needs to be stored, protected, and monitored. Another thing to note is that image quality is still improving, so even facial ID has its flaws in that department. For example, eyeglasses and facial hair might cause issues to arise, especially if the face is not angled properly towards the camera.
When improved greatly, introducing facial recognition as the new payment system can be a game-changer in the world of digital payments. With facial recognition, you wouldn’t need to carry a phone or bank card with you when making a purchase. You wouldn’t even need to carry cash around, too. How convenient would that be? Do you think it’s time to say goodbye to QR codes and pin codes and start welcoming facial recognition with open arms?