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QNB launches new facial recognition payment system
Authentication by facial recognition concept. Biometric. Security system.
QNB Group has launched a new facial biometric payment system enabling customers to shop ever more seamlessly, without needing the traditional bank card, nor even your phone.
The solution enables customers to pay for goods and services through facial biometric verification, without a physical card or mobile phone. Users will be able to create their profile by taking a selfie on their smartphone and inserting their bank details in a one-time set up, making it possible to then pay through authenticating the purchase with an in-store selfie, convenient and simple for their purchases.
According to Grand View Research’s market analysis on Qatar’s smartphone market size, forecast and trends through to 2025, “Qatar is one of the Arab states of the Persian Gulf that has witnessed the highest adoption rate of smartphones, exceeding the average adoption rate of smartphones in the other Arab States.” The report suggests the growth could be attributed to the increased adoption by millennials, high disposable income, and widespread use of broadband and apps (or applications), as well as the government initiative ‘Qatar Vision 2030’ which further promotes the use of smart and digital devices.
QNB Group of Qatar, one of the Middle East and Africa’s largest financial institutions, is tapping into the surge in the smartphone savvy market and positioning itself to be at the forefront of innovation and digitalisation, high on the Qatari government agenda.
Mr. Adel Al-Malki, Senior Executive Vice President – Group Retail Banking at QNB stated, “As the payment landscape evolves, QNB is always at the forefront of this evolution, and constantly willing to be an early adopter of innovative technologies that drive frictionless and enhanced payment experience”.
The solution is provided by QNB’s acceptance network through tokenisation supported by Visa, and based on proprietary facial verification technology developed by PopID.
“In America and Japan, we have demonstrated that allowing consumers to link PopPay to loyalty accounts and payment methods substantially increases speed of ordering and check out, drives loyalty engagement, and reduces fraud,” said John Miller, CEO of PopID and its parent company.
