Following the footsteps of tech giant Apple, which has embedded the face recognition tool to open its smartphones, Paytm is all set to roll out the face recognition tool as well to open its app and make transactions. According to the digital payments company, the testing for the face recognition tool to open the application is being tested at its plant in Noida by the employees of the company. In addition, using the face recognition tool, Paytm customers can soon make payments at merchant outlets with a blink of an eye. The biometric tool which scans the eye of the customer will soon be used to complete a transaction at a merchant outlet. The face recognition tool as well as the biometric tool will be used to prevent phishing and frauds that are plaguing the digital payments platform.
According to Deepak Abbot, who is the vice president of Paytm, the face recognition tool is being worked on in their plant, and will soon be available on Google’s android platform in order to take the service to every nook and corner of the country. With already more than 9 million merchants on its platform, the company said that the face recognition tool will serve as a level authentication, and the blink of an eye concept to process payments at merchant outlets will help prevent frauds and detect whether the customer is dead or alive by scanning the white of the eye of the customer.
Source: Economic Times