TelpoGlobal

  If you think the coronavirus pandemic only limit people’s action, it would be a huge misunderstanding. Human’s modes of thinking, consumption, and payment have changed in a bid to maintain a normal life and better protect themselves. When it comes to commercial transactions,  biometric payment  is the most notable new approach.         Recently, Mastercard New Payment Index showed that 96 percent of Nigerians arouse keen interest in new payment methods including biometric payment, digital wallets, wearables, and QR codes, even though 66% of them never think of trying those payment methods before the pandemic.      The enthusiasm was even higher in Kenya, where 99 percent say they will use an emerging payment method in the next year, and similar in South Africa, and in the Middle East and North Africa (both 95 percent). Among them, the intention of choosing biometric payment accounts for a large percen...

  With people squint towards contactless payment and concern on financial security issues, biometric technology is gradually applied in the banking business. Biometric payments could contribute $5 billion to global banking revenues by 2026, UBS analyst reported. There is no doubt that safe and accurate are the basic standards for bank businesses. Thanks to the in-depth development of face recognition technology, facial recognition system and biometric payment like biometric facial payment can play a significant role in enhancing the security and convenience of the banking business and even boost its optimization and promotion.   How does biometric payment improve the banking business?   In the past, people used to carry their ID cards, take a long queuing and fill in a series of forms to apply business in the bank. It takes bank staff a long time to confirm individual information by human comparison and then process applier business, resulting in low working efficien...