Payment solutions provider SnapPay has announced that North American merchants are set to be granted access to facial recognition payment technology.
Based upon current facial recognition platforms available in Asia, the product will enable consumers to pay for goods with a qualified digital snapshot during the check-out process.
The feature, which is completely contact free, will trigger and complete the transaction with a 3-D snapshot of the user’s face, following authentication from the users payment account.
Spencer Xu, CEO and founder of SnapPay, stated: “Facial recognition technology is an increasingly popular method of payment among global consumers. By enabling consumers to pay with their ‘face’,
“North American merchants, particularly those with self-service kiosks, are providing an unprecedented level of convenience and speed in the checkout process, to a lucrative customer segment that increasingly demands it.”
The ability to enable consumers to pay for their goods via facial technology is expected to help minimise consumer check-out times by creating availability for more self-checkout lanes.
According to consulting and advisory firm Mordor Intelligence, the facial-recognition market is projected to double to $9 billion between 2018 and 2024.
“Retailers in Canada are eager to explore technologies that will help improve the retail experience for their customers,” added Mary Markou, senior director of sponsorship retail council of Canada.
“SnapPay is a very interesting new player offering new solutions in the Canadian payments ecosystem. We’re looking forward to being first to see this new technology in use at Retail West.”
