September 2, 2014 -
Researchers at the Chongqing Institute of Green and Intelligent Technology in China are currently developing a facial recognition payment system that enables users to authorize their online transactions by showing a photo of themselves, according to a report by IB Times.
According to researchers at Chongqing Institute, the system enables users to interlink their bank accounts or credit cards with facial data and make purchases without the use of any passwords or PINs.
A special camera captures a photo of the user’s face, collecting biometric data about the face from 91 angles. The data is then cross-checked against a database of two million sets of data.
So far, researchers said that the system has had an exceptionally high success rate, with a reported accuracy rate of 998 times out of 1,000 tests.
The system, which only takes a matter of seconds, will allow consumers to shop without having to memorize a password or PIN. The software even takes into account any changes to the person’s face over time.
Implementation could be as early as the second half of 2015, according to the researchers. By then, they say users will be able to install the app on mobile devices and connect with their financial payment method which will collect their facial features, using them as a password. Customers will just need to face the camera to complete the facial-recognition and payment processes.