We are again on the verge of an amazing invention that will change our daily life in more than one ways. There is not a single day that goes by where we do not see some or the other new tech invention that is here to stay. From home automation to AI, the tech geniuses are working to make our daily life more salient yet productive.
It was just some time before that we were trying to wrap our heads around facial recognition and now it precedents the way for something even more bigger and better – Paying with Your Face.
Yes, you heard it right, developed by Face++ (pronounced “face plus plus”), a Chinese startup valued at tentatively a billion dollars have developed the concept. It is still in its nascent stage but after a lot of deliberation, they have decided to churn out the idea and actually develop it into a future technology that will positively reverberate the financial sector.
Credit cards, online wallets and cryptocurrencies are still at different stages of their lifespan and with the inclusion of PWYF, there are a whole lot of potential scenarios that have opened up that will pave the way for some astonishing future when it comes to dealing in currency. Layman needs to have a proper cognizance about the whole working of PWYF in order for it to be a big success and that is why, the experts are working in the direction to make it more user friendly, safe, secured and are also making them equipped with all the technology to succour the clients at times of needs.
Just Smile and Pay. No Fingerprints or Retinal Scans!!
A lot of queries arise about the whole working of the technology and that is why, we are here to cover all the basics and it is prerogative to all. So, strap in as you are in for a ride to remember.
How it PWYF Works?
It is probably a question in everybody’s mind. It all starts with uploading a photo. Once the user uploads their photo in the system, the facial biometric data is integrated and it acts as a fulcrum. It tracks up to 83 different points of the face from diverse angles at the same time. Therefore, once the data is stored, the next time all you have to do is smile and the payment will be done.
Ant Financial and a subsidiary of Alibaba – Alipay are already using such tech and have garnered some amazing reviews. Alipay’s “smile-to-pay” application is already using PWYF and it has managed to influx other services that are willing to look into such future transactions.
Using artificial intelligence and deep learning techniques, the technology has proved its mettle.
What Makes PWYF Different?
ACCURACY & SECURITY – Probably the two most cynosure features the customer will look into any application around the world. Especially, in case of such apps where payment is involved. Accountability is one of their prime concerns, as identity theft is not new these days. In addition, if someone who looks similar to the user can be a potential threat along with others who are thinking of simply holding the photo of the user in front of the software to get the payment done.
The experts have thoroughly thought these variables through and have covered all the bases.
Let us break this down – 99% accuracy is that they have been able to achieve and they are still in the process of improving every day. Also, Face++ (Face plus plus) and Baidu, have developed a revolutionary facial recognition software that works on multiple facets.
The creators have doubled-up on the security by having “liveness test” in the software. In order to prevent any foul play or other enigmatic circumstances, this test proves to be very vital.
It offers more CONVENIENCE than SECURITY and that is one of the prime reasons of it being so popular in the China. In addition, there are other features of the app that makes it a front-runner in the genre.
- It has the ability to analyze age, race or gender of the user
- It can compare faces and recognize emotional expressions
- Face++ is widely used these days to grant access to private property
- It also has the ability to monitor people’s movements
Face++ is vying with many other companies to earn top spot in the market. Apart from payment, there are multiple uses of such facial recognition software.
Your face is your credit card. Based in Pasadena, California, CaliBurger is allowing their customer to pay with face and it is one of the first American retail venture to do so. It helps enhance the customer loyalty program and of course, it is highly convenient. The AI kiosks will keep the track customer’s habits and preferences for future use and thus making the whole experience a very subtle one.
It can help enhance the security and help with law enforcement as well. Trespassers can be easily identified and it will determine whether the individual can gain access to the property or not. Even the U.S airport security have started using it to confirm the boarding. The TSA is having a testing phase to determine if it can be used for check-in lines as well.
In many places across China, in agreement with Baidu, they are using the technology at a number of tourist attractions. Customer services can also be enhanced with these software. There are coffee shops in China, which uses such as a greeting tool. Therefore, when you enter the premises, they greet you with your name.
Face++’s high-precision face detection and landmarks algorithms allows you to edit selfies with multiple effects. Yes, Camera 360 (famous photo editing software) lets you do so.
We hope the above offered evidences are enough to recognize the potential that lies with Paying with Your Face by Face++. With such fast rise in its use, ipso facto it is going to be a big success in not so distant future.
At Last.. The final VERDICT!
China is one of the few countries with a unique database that helps facial recognition to perform better compared to others. That is why the technology has clamored its way in the country. After being initially reprimanded, along with its additional features like face comparison, age analysis, gender detection, emotion assumption, it is scaling new heights every day.
SAFETY from conventional passwords can be one of the positive outcomes. However, the prerequisite is to have proper systems to support such higher use. As it is still in the initial stages and being used on a smaller scale, some issues might not be addressed. Once implied on a massive scale, it can bring its own challenges and Face++, along with the creators must be ready with their weapons and fill up the armory with any future needs.
We positively opine with the use of such future technology that includes AI, as it is the technology of tomorrow. The cognizance of such among layman will lead to more use of PWYF. Once countries like the US and others find a system to click the photo for the app’s record book and have it securely stored, then they can easily implement the tech in future. With such demand and use in these countries, the rest of the world will join in soon and let it have a positive reverberate for the future generations.
Do not be surprised when you are the checkout counter and the store operator just tells you to smile!!!
About The Author
Nirav Patel is a CEO of Australia based MNC and also an avid reader. Inspiring and ethical leader focused on driving growth and investor returns. Strategic and tactical, operational and financial, a high energy pragmatic leader, motivating and energizing teams with an infectious enthusiasm to maximize the organization’s potential.