Facial recognition will become a form of payment in Vietnam next year thanks to a brand new app developed by a local technology firm.
Developed by Wee Digital Company, the app, named FacePay, will be in use at over 100 GS25 convenient stores in Ho Chi Minh City and southern Binh Duong Province in early 2021.
In order to use the app, people will only need to install it on their smartphones, register their faces, fill in personal information, and link the app with their bank account.
The payment process will include three steps.
Users will first confirm the amount of payment, then enter their security passwords, and finally have their faces scanned.
FacePay is also expected to be used at other convenient stores, coffee shops, restaurants, and online shopping sites in the coming time.
In a relevant story, Sacombank has partnered with Visa, the global leader in payment technology, to deploy the ‘Tap to Phone’ technology that enables merchants to use their mobile phones or tablets as a point-of-sale device for contactless payment.
The ‘Tap to Phone’ technology uses a software development kit (SDK) integrated in mMerchant, a mobile app exclusively meant for merchants, to meet the increasing demand for fast and convenient payment solutions.
With this simple operation, sellers can quickly and easily receive payments anytime, anywhere.
After entering the amount, buyers just need to tap their Visa contactless cards on the sellers’ mobile device to complete the transaction.
Cardholders will not need to sign an invoice if it is under VND1 million (US$43).
For invoices worth over VND1 million, the sellers will instruct cardholders to sign their names on their mobile device screen and enter an email address to receive the e-invoice.
This article was originally published on Tuoitre
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Source: Vietnam Insider