Finance giant Mastercard has announced that it has launched a new payment system that allows you to pay with just a smile or a wave.
As we prepare for a future where our fingerprints will replace our passwords, Mastercard, one of the largest financial companies in the world, made a statement that took it one step further. The company has announced its new system that will allow you to shop in markets without the need to use new technologies such as cards, cash or even NFC.
With the said technology, customers in the markets that adopt the technology will be able to perform their shopping transactions using only facial recognition data. In the feature where facial recognition technology comes to the fore, shopping can be completed with just a smile or a wave of the customer.
The use of the new payment system starts this week
The new payment system will be made available as part of a pilot application by merchants that have signed an agreement with Mastercard. In order to use the feature, of course, customers who want to benefit from this feature will also need to register in the system. The facial recognition technology used in the feature will be developed by Japan-based NEC, Brazil-based Payface and California-based PopID.
The feature will launch in five major supermarkets in Brazil this week. In the next stages, pilot tests of the feature will begin in regions such as Asia, the Middle East and Europe. On the other hand, the feature has already started some privacy issue discussions.
Features similar to Mastercard’s feature of making payments with face recognition were used in different countries in the past. Amazon, one of the pioneering companies in this regard, introduced the palm reader called Amazon One in the USA but faced the reaction of the US senators last August.