The service generates an app and the payment card will use facial recognition technology to confirm the validity of holder’s identification card.
The monetisation model involves taking a cut of the fee charged by merchants to process the transaction as well as collecting and analysing data for brands. The card can be ‘switched off’ if it has been misplaced before reporting it lost or to turn the online shopping ability on or off at will.
Neat will be compatible with Apple Pay and Adroid Pay.
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