Blog Post

August 262017

107
pay with your face graphizona blogs

"Unable to memorize your account credentials, Face++ takes your load"
Face++ is a software company that is situated in the sub-urban area of Beijing. The company’s building is fully integrated with their latest face mapping and recognition technology. Every user is recognised by their face at the time of entering the building, and are simultaneously being tracked ain every corner of the building. This technology makes use of an advanced algorithm that automatically generates and marks several facial points that can help the software to track a person from almost any angle.

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Face recognition technology has been developed several years back, but none of them were secured enough to be used in the financial sectors. But with the advancements in technological world, along with the latest development and upgradation of this technology by the Face++, it is now trending to be one of the most secure means of payments in the financial markets. Companies like Alibaba, and Baidu implemented this technology and are already using it for their payment and user recognition purposes.

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The possibilities of this technology is uncountable in todays world, but some of them are listed as follows –

1) Money Transfers – This enables the user’s to make the transfer of money between the user’s very easy and hassle free.
2) Logging In – The users need not require to remember to remember their account security credentials while accessing their accounts or stuffs.
3) Placing Bookings – The users can very easily place and confirm any sort of bookings by using their face as verification which greatly leads to effective authenticity.
4) Making Payments – Payment process has been hugely eased as the chances of making wrong transactions have been highly reduced with unique facial recognitions.
5) Keeping Tracks – Any person or individual can now be tracked easily by just scanning their face once and rest the algorithm generates the unique facial details with multiple level of verifications that the software makes use of to keep the track along with a high-end camera.

Among all the above mentioned list of possibilities, the way of making Payments is trending in today’s financial markets. This possibility enables the user’s to easily make online or offline payments for the goods or services being purchased, or transfer money to another person just by scanning their face, and many more. With this technology, the users doesn’t require to remember their credentials tat are required to login-in into their accounts or to search and select the persons details, with whom they are going to interact with.
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The latest face recognition technology is already being used by almost 120 million people in china, through a very popular application named Älipay” that lets them transfer money just by using the user’s face as the credentials. Further, company like Baidu is developing another set of software that can be used to book railway tickets, by using only the user’s face, based on this same level of technology. This technology can overall reduce the user’s manual efforts to book a ticket by standing in long queues.

Written By Subrata Debnath
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