Like the e-commerce sector, retail payments are being enhanced with the latest technology as
well. A financial firm has recently introduced a biometric facial recognition system for its partnering merchants.
This new system will be unveiled and its full capabilities
will be demonstrated at the upcoming Retail West Show, presented in Vancouver by
the Retail Council of Canada and at the Grocery Innovations Canada (GIC) event
in Toronto. What do we know about it till now? It will give consumers the
opportunity to conduct transactions with a snapshot during the checkout
process. This considerably reduces the time taken to complete a payment,
enhances the value proposition of self-checkout lanes, and helps
merchants benefit from the latest settlement technology. Additionally, clients
will not have to use cash, their purse or even a card. This new system can be
tied to loyalty programs as well.
Speaking about this facility, the CEO and founder of the
financial firm advanced, “Facial
recognition technology is an increasingly popular method of payment
among global consumers. By enabling consumers to pay with their ‘face’ North
American merchants, particularly those with self-service kiosks, are providing
an unprecedented level of convenience and speed in the checkout process”. As
for retailers, they are very eager to implement this new solution.
Retail
payments are becoming more innovative
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