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Romanian Biometrics Company face payment Facial recognition-based payment solutions have been deployed in South Africa, India, UAE and the US
The company’s CEO Mihai Draghici made the announcement on LinkedIn postal this summer, followed by Biometrics Update in an email interview.
“As pioneers of EU fintech start-ups working to drive the world towards a cashless and cardless society, using the human face as a highly secure virtual card, we have to go outside the EU to understand global shoppers,” Dragic said Say.
India, the UAE, the US and South Africa are dynamic markets where retailers are starting to incorporate biometric payments into their point-of-sale (POS) processes to reduce friction in checkout transactions, eliminate fraud and take advantage of operational efficiencies, the CEO said.
“As PayByFace, we must not only participate in these markets, but also lead the process and learn with best practices in order to better scale this unique solution globally,” Draghici explained.
Additionally, the CEO said, in addition to simplifying payments and adding value to the loyalty program, PayByFace strives to achieve higher levels of transaction security and reliability from a shopper-centric perspective.
“We offer four instant cross-checked security touchpoints to verify payments far beyond the traditional payment methods we’re used to; while it’s GDPR compliant, the ultra-scalable on-demand decentralized architecture allows for in less than 1 second Authentication,” Draghici explained.
“Increasing our understanding of how to engage core adopters in the global marketplace will foster mass adoption of biometrics,” the executive added.
PayByFace’s expansion comes a few months after the company was named a participant in Mastercard’s biometric checkout program, which follows strategic investment June from SafexPay, an Indian fintech company.
Recently, the company sponsored a music event An event called “PayByFace Africa MixFest” was held in South Africa in September to celebrate the company’s launch of the solution in the country.
Article subject
biometric authentication | Biometrics | Contactless | face recognition | India | face payment | Payment | POS | Retail Biometrics | South Africa | United Arab Emirates | U.S.
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