Alipay in China has developed facial recognition technology that allows people to pay instore without the need for cards or other devices. The user simply scan their face at the kiosk and enter their mobile number. The developers say they have an accuracy rate of 99.8%.
China, at the forefront of mobile and payment technology paves the way for what payments might look like in the future. However, it might not be a future coming to the UK imminently due to data privacy concerns and increased cultural fear of being tracked by big businesses.
Tags: banking and finance, innovation