Mmastodon BusinessBanking first seen 13 h ago, last 51 min ago, peak #12

Revolut trials face-recognition payments with Pay with Smile

Original: Revolut testet mit „Pay with Smile“ biometrisches Bezahlen per Gesichtserkennung und verknüpft dabei KYC-Daten, eigenes

Fintech firm Revolut is testing 'Pay with Smile', a biometric payment method that lets customers pay in shops using facial recognition. The system links customers' existing KYC identity data, runs on Revolut's own point-of-sale hardware, and deducts money directly from a Revolut account, bypassing cards or smartphones. Commentators note this creates a nearly closed payment ecosystem around the company, raising both convenience and privacy questions as the trial draws attention in banking and fintech circles.

Why now: The move toward a closed, face-scanning payment ecosystem raises fresh privacy and market-power concerns in fintech.

RevolutPay with Smile

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• Revolut testet mit „Pay with Smile“ biometrisches Bezahlen per Gesichtserkennung und verknüpft dabei KYC-Daten, eigenes POS-Hardware und Direktzahlung vom Revolut-Konto. Damit entsteht erstmals ein nahezu geschlossenes Payment-Ökosystem, das klassische Karten, Smartphones oder… · IT_Finanzmagazin · 1

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