Mastercard and NEC to Test Facial Recognition Checkout in Asia by 2024by Fintech News Singapore December 11, 2023
Mastercard, in partnership with NEC, is set to pilot a facial recognition-based checkout system in Asia. The initiative is set to commence with trials next year, targeting potential markets in Asia, including Singapore and Indonesia.
This initiative reflects the region’s keen adoption of new technologies, with over 80 percent of Mastercard transactions in Asia being contactless.
Customers will register their facial images on a smartphone, enabling them to complete purchases by glancing at a tablet camera, thereby streamlining the checkout process. This system aims to offer convenience for consumers and reduce operational costs for merchants.
NEC’s biometric technology, which has been previously implemented in various applications across Asia, including Singapore’s national identity cards and immigration checkpoints at Changi Airport, and managing national ID systems in Vietnam and India, will be a vital component of this new system.
The technology is noted for its ability to adjust to different facial orientations and camera conditions.
In addressing potential privacy and security concerns associated with facial recognition technology, Mastercard has highlighted its framework that ensures biometric data is not stored on devices, emphasising the importance of data security and consumer privacy.
In addition to Singapore and Indonesia, plans are underway to expand this payment system to other regional key markets, including Thailand, Australia, and Japan.