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Digital Identity, Security & Online Fraud

Japanese bank to use biometrics as substitute for payment cards

Tuesday 23 August 2016 | 12:54 PM CET

Sumitomo Mitsui Financial Group (SMFG) has announced that it’s exploring the use of facial recognition as a substitute for payment cards.

The scope is to link customers’ facial biometrics directly to their account credentials, allowing them to pay for purchases via facial scan and with no need for additional hardware such as bank cards.

The concept is similar to the fingerprint scan-based system currently being explored by the government of Japan, that would allow tourists to make biometric payments during the Tokyo 2020 Olympics.

SMFG’s system would allow for payments and ATM withdrawals, and is currently planning trials with retail partners for 2017, though the project could take years to roll out for more general use.

More: Link
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