PayPal is to use facial recognition technology in a trial in Richmond, London and Australia for in-store payments. All you’ll need to do is finish your shopping, “check-in” at a store on your smartphone, place an order, and have the sales assistant check your photo ID when it pops up on their terminal.
The facial recognition-based tech is said to ramp up over the next three years, as consumers become more and more technology dependant. They’re becoming much more comfortable using them to shop, and online payment provider PayPal is jumping at the chance.
Nielsen’s latest figures have shown that an estimate of annual purchases of goods and services using smart phones was just $155 million two years ago, that figure has now rocketed up to $5.6 billion. To say that this is a large jump would be a severe understatement.
The entire cashless mobile transactions in brick-and-mortar retailers are automatically charged to customers’ PayPal accounts, which are linked to their bank or credit card funds without the need to touch a POS terminal.
We see this as becoming commonplace, particularly in cafes and fast food restaurants, in the next two to three years, comments Andrew Rechtman, director of product, PayPal Australia.
A dozen businesses in Richmond high street, including cafes, restaurants and shops, have become the first to pilot the technology in the UK, which aims to consign wallets, cards and PINs to history.
Rob Harper, head, retail services, PayPal, adds: “This is another step on the journey towards a wallet-less high street, where customers will be able to leave their wallet or purse at home and pay using their phone or tablet. We predict that by 2016 this will become a reality.”