In Australia Customers using their face to make payments at shops could become a reality, however researchers warn it comes at a price.
Its call Facial recognition Payments are already in practice in places like China and the USA, which uses biometric data from your face to complete transactions.
Are customers ready to embrace facial recognition payment technology? A new study explores.
Imagine walking into a store, picking up your items and paying just by looking at a screen. This is already a reality in China thanks to facial recognition payment technology, but how do people on the other side of the world feel about it?
A study by researchers from the University of Auckland and Queensland University of Technology explores the factors that could make or break this payment method’s success.
One interesting finding, say the authors, who undertook in-depth interviews with 20 participants, was people’s apprehension regarding overspending and compulsive shopping.
“Some people think they are ok with this technology because they have used facial recognition to unlock their phone or that their face is already on the internet, but when it comes to payments, this is totally different; this is connected to your financial information.
“This means that banks and retailers will have customers’ faces stored in their systems and some people have concerns about this, especially with the rise of deepfakes and other scams.”
Brand awareness and trust were also important to those interviewed. People are more likely to try facial recognition payment systems if they are offered by a retailer or bank they trust, says Sajtos.
