Speaking of brush face payment, the public was impressed by Jack Ma debut in Germany three years ago.
In March 2015, Jack Ma in Germany CeBIT exhibition opening ceremony released and demonstrated the brush face payment technology, the end of the same year,Ant Financial convincing face certification landing function officially on-line. However, as the commercial application of brush face payment has higher security requirements and is easily affected by the complexity of real scenes, So the commercial pilot did not start immediately.
In recent years, financial institutions and third-party payment giants have been racing to add more code to their face recognition technology. For example, in December, WeChat paid co-branded Jack and Jones launched a face smart fashion store. In June, Wal-mart and Tencent announced a deep strategic partnership that included creating innovative payment scenarios for face payments.
In terms of brush face payment, many banks have started testing water, Brush face to withdraw money is already a reality. Just follow the ATM prompt operation, a slight smile, the user has been able to make a face withdrawal on ATM machines in many banks.
Perhaps in the near future, the sophistication of technology and the combination of business scenarios will make face pay everywhere, we are about to usher in the real “brush face era.”
Gen Market Insights, the international authoritative research agency, released the global Face Recognition Device Research report 2018, which studies the market situation of the global face recognition device, and considers China to be the largest consumer area, with the Chinese manufacturer’s market share ranked first.
Several important factors of China’s brisk step into “brush face era”
Wide application scenario: In recent years, with the safety awareness and security requirements strengthened, the consumption of face recognition equipment increased significantly and the potential demand is also being gradually excavated.
The research report shows that in 2017, the global market for face recognition equipment was valued at $1.07 billion, reaching $7.17 billion by the end of 2025, with a 26.8% per cent growth rate from 2018 to 2025. Face recognition device is a soft and hard integrated machine based on face recognition algorithm, which can be used in finance, judicature, border inspection, factory, education, medical and other fields.
Data resources are huge: the development of face recognition technology is inseparable from the huge data resources. China’s vast population and industry data resources have created a sound development base for face recognition technology, and are powerful in big data, cloud computing, the Internet, and the smart infrastructure for IoT. Moreover, face recognition products have been used in many industries, resulting in a large number of data can be stored in the database, to facilitate the development of face recognition technology to further improve.
The eve of face brush age – the commercial scale of face recognition
Whether it’s online or offline, Brush face pay has not been a stranger to us for the past two years, one reason is that technology is maturing and is now on the eve of large-scale commercialization.
On mobile phones, facial recognition, whether hardware or software, is starting to make its way into homes. Facial recognition, represented by the 2017 iPhone X Face ID, allows people to experience that Face brushing can be used not only to unlock the phone, but also to play with Emoji and even pay in the financial sector.
And at the software level, the financial and payment applications Alipay also very early on-line brush face verification and payment functions, can say, after the two years of technological progress and popularity, brush face payment has been preliminarily reached the user experience upgrade.
In mid-august this year, at the Open Day of Ant Financial, Alipay announced that after experience accumulation and technological upgrading, Brush face pay has become commercially available. According to Alipay, the accuracy rate of Brush face payment is 99.99%. After its self-service cash register and Brush face payment were launched in supermarkets, restaurants, and pharmacies, it effectively alleviated the phenomenon of checkout and queuing during peak hours, and the efficiency of checkout and settlement was improved by more than 50%.
Another implication of large-scale commercial face recognition is that the ideal digital age is getting closer to us. As you know, online shopping is very refreshing from the analysis of the data, it can in a large quantity of goods, according to your browsing habits to choose the items you want. The ultimate goal of brush face payment is to create this experience online with daily data through a combination of offline shopping and on-line payments.
For example, every time you enter the store, buy a piece of clothing and pay by brushing your face, your shopping data will directly link to your shopping points on the line and provide you with more recommended combinations.
But you may wonder, what is the difference between the things that can be done with a mobile phone QR code, and what will be done with a brush face payment?
Indeed, Brush face payment and QR code payment have some similarities. But whether it is security or experience, the former must improve a lot. Security allows the face payment to take on the risk level of the financial level. This is an important reason why you can see the face verification in the bank, but there is no QR code verification. In comparison, the improvement in experience is also crucial.
The part of the face payment is to buy things, scan the camera to identify, confirm, and take away things. You’ll see that even if you go out and forget your phone, it’s no problem. It’s quicker to brush your face than a sweep, and it takes only a second to complete your facial scan, and then you can make the entire shopping payment process in less than 10 seconds.
Brush face payment is also more simple, brush face payment does not need you sweep QR code, even do not need you to take a mobile phone out, because the other side in the collection of direct scan your face, you can pay. Just after you’ve selected your product, click on the face to pay, Alipay will automatically recognize your face and debit your Alipay account. “The best technology is to let you not feel the existence of technology,” which is the meaning of the brush face payment.
But in the process of popularizing any high-tech payment method, the public’s greatest concern is still safety. Brush your face, brush your fingerprints, brush your iris, will you brush away security and privacy? Many fintech practitioners say that after the commercialization of face-brushing, it is likely that in the next few years it will be as popular as the two-dimensional code payment, but the security is constantly increasing to allow the public to accept.