2023-05-17 20:39:00
Increasingly, Brazilian consumers seek agility in payment methods. Therefore, retailers in the country are looking for new ways to reinvent themselves, and facial biometrics is one of them.
So far, the most successful traditional means are credit and debit cards and PIX. According to data released by EBANX in January of this year, this scenario has changed and new alternative and instant payment methods are appearing in 2023. According to the report, Latin America and Africa are the two regions that recorded the highest annual growth rate (CAGR) of digital shoppers in the world – and this will continue to expand through 2025.
Facial biometrics is able to speed up the approval process and offer a more personalized service. Proof of this is that it is being commonly and successfully used in various sectors, such as finance, health, education, transport and security in countries such as China, United States, Spain and Russia.
In Brazil, the resource has been tested in different areas, including the retail sector, which shows a tendency to gain market share. According to a study by Juniper Research, by 2027 the value of biometrically authenticated remote mobile payments is expected to reach $1.2 trillion globally.
Within supermarket chains such as St Marche, startup Payface is starting to sell its facial recognition technology that is compatible with cards and virtual wallets. Among the benefits are: more consumer safety, with the prevention of robberies and thefts; agility at the time of payment and reduction of queues; access control to stores; personalization in attendance; agility in the internal processes of the establishments.
And you, what do you think of this market trend? Do you want to join payment by facial recognition? Leave your comment below!
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