SHENZHEN-BASED tech giant Tencent recently announced plans to export its palm payment technology through a strategic partnership with Visa. According to Shenzhen Special Zone Daily, the company will introduce its palm recognition technology for digital payments in international markets, starting with a rollout in Singapore. Singapore’s DBS, OCBC, and UOB banks have partnered with Tencent and Visa, enabling their Visa cardholders to use palm payments at AIchemist coffee shops in Singapore. Users can link their bank cards to their palm information via Tencent devices, allowing quick, cardless, and phone-free payments with a simple wave of their palm. Tencent’s real-time, high-precision palm payment technology uses dual-factor identification based on each person’s unique palm print and palm vein pattern. Users must complete a one-time enrollment at the merchant point of sale by tapping their Visa card, scanning their palm, and authenticating. After enrollment, a Visa payment token links to their palm, enabling future payments at participating merchants. (Windy Shao) |