Chinese technology giant tencent and visa We announced a new partnership to bring palm-based payments to the international market at the Singapore FinTech Festival.
The pilot program will begin in Singapore and will allow Visa cardholders from participating banks such as DBS, OCBC and UOB to pay with the palm of their hand at select merchants.
The first location to offer this technology is Café Alchemist in Singapore.
SFF attendees were able to experience the Pay by Palm solution first-hand at both the Tencent and Visa booths.
The new payment method requires users to complete a one-time registration by tapping their Visa card, scanning their palm, and verifying their identity.
Once registered, users can make future payments by simply waving their palms over participating merchants, without the need for a card or mobile phone.
Tencent, through its Singapore subsidiary Tencent SenseTech, ensures data localization and provides technical support, prioritizing data security and privacy compliance.
The technology employs a two-layer security approach that combines palm print and vein recognition, providing accuracy even under difficult lighting.
User data is encrypted for safe storage and prevents unauthorized access or reuse by third parties.
Tencent also expressed its willingness to collaborate with customers and partners in various industries to explore new applications of palm recognition technology.
“This innovative solution demonstrates our commitment to providing consumers with a simple, convenient and secure way to pay.According to our biometric research, 7 out of 10 Singaporean consumers Many people consider this a secure payment method.
Our goal is to enhance the payment experience and ensure our customers enjoy seamless transactions with the highest level of security. We are excited to work with Tencent to lead the transformation of the future of payments. ”
Adaline Kim, Visa Country Manager for Singapore and Brunei, said:
