Goodbye Credit Cards? You Can Now Pay With Your Face And Here's What Will Happen to Contactless Paym
To resolve this issue, PopID, a Cali Group company, created a new technology called "PopPay." On Friday, Aug. 28, it was launched following the rollout of the Pasadena company's PopEntry facial recognition device. PopEntry, which is already used at almost 1,000 offices, allows students and workers to scan-in to their workplace or college campus facilities.
Pasadena's new tech comes with a thermal temperature-screening option. On the other hand, PopPay lets users transfer money from their debit or credit card into their PopPay account using a selfie picture. But first, they need to sign up on their smartphone via the PopID website.
The innovation makes people's faces their secure "digital token," which can be used to all PopID devices and transactions. The new service is currently running in Pasadena for five months.However, germaphobes were the only ones who were concerned about this before the pandemic began. People are now also worried about the issue since the novel coronavirus could be lurking in the bills they receive.
To avoid further infection, contactless being used in 48 countries. Its increased spending limits show the service's popularity. After COVID-19 became a major global health issue, the average contactless limit was increased to 131%.The United States is also expected to increase its limit, which is currently $100. Other countries who prefer using cash for transactions, such as Germany, are already using the new service.
More than half of Germany's overall purchases are now touchless. These changes show that contactless payments have a high chance of overtaking cash and traditional credit cards after five years.