Chinese tech giant Tencent and Visa announced a new partnership to bring palm recognition payments to international markets at the Singapore Fintech Festival.
The pilot program will begin in Singapore, allowing Visa cardholders from participating banks like DBS, OCBC, and UOB to pay with their palms at select merchants.
The first location to offer this technology is Alchemist, a café in Singapore.
Attendees at SFF could experience the Pay by Palm solution firsthand at both Tencent and Visa booths.
The new payment method requires users to complete a one-time enrollment by tapping their Visa card, scanning their palm, and confirming their identity.
Once registered, users can make future payments simply by waving their palm at participating merchants, eliminating the need for cards or phones.
Tencent, through its Singapore subsidiary Tencent SenseTech, ensures data localisation and offers technical support, prioritising data security and privacy compliance.
The technology uses a dual-layer security approach that combines palm print and vein recognition, providing accuracy even in challenging lighting.
User data is encrypted for secure storage, preventing unauthorised access or reuse by third parties.
Tencent has also expressed openness to collaborating with clients and partners across various industries to explore new applications of its palm recognition technology.
“This innovative solution represents our commitment to providing a simple, convenient, and secure way for consumers to pay. Based on our biometrics study, close to seven in 10 Singapore consumers see this as a secure way to pay.
Our aim is to enhance the payment experience and ensure that our customers can enjoy seamless transactions with the highest level of security. Together with Tencent, we are excited to lead the way in transforming the future of payments.”
said Adeline Kim, Visa Country Manager for Singapore & Brunei.
