Chinese institute to develop facial recognition payment system by 2015
Chongqing Institute of Green and Intelligent Technology has announced that it is developing a facial recognition payment system in China whereby users can show a photo for authentication purposes while doing online transactions.
According to the China Daily, the system is under development at the moment and will come into application by 2015.
Under this system, users will be able to interlink their bank accounts or credit cards with facial data and make payments without any passwords.
The director said that the system underwent 1,000 tests and achieved 99.8 percent accuracy.
The system can also recognize lip reading while asking users to read an on-screen security code.
(Posted on 01-09-2014)