Secure Biometric Payments Help Set Retail Records in China
December 11, 2018
With the use of secure biometric payments, record sales were recorded in China on Singles’ day, the equivalent of black Friday and cyber Monday. Retail giant Alibaba recorded £24 billion of transactions on the day.
Secure biometric payments flourishing
The huge amount of transactions on 11 November in China can somewhat be attributed to secure biometric payments. The two largest payment methods and companies in the country are Alipay and WeChat Pay. Both since roughly 2014 have been promoting the use of fingerprint scanning for payments – and then both moved on to offer face recognition payments as well.
And it would appear the Chinese people have welcomed and embraced such moves. In a survey by CPCA, it found that 85 per cent of Chinese people were comfortable using secure biometric payments.
What that meant was that on the biggest shopping day of the year, 60 per cent of all the transactions recorded by Alipay were carried out with the assistance of biometrics, whether that be in-store, online or via mobile. Such solutions eradicate clunky barriers such as passwords or PINs.
Secure biometric payments in the office
The success of secure biometric payments comes from the convenience they provide, while at the same time decreasing the chance of fraudulent payments.
It’s not only the retail world that can benefit from the advantages biometrics provide, however. Here at BioStore, we let organisations and offices take advantage of these exact same benefits for all manner of authentications that need to take place throughout the day.
A biometric fingerprint scan can be what grants you access to the office quickly, what logs you on to your computer, collects a printing job, or just like in the retail world, pays for your office lunch.
People are growing more comfortable using biometrics for retail and in their private lives. It’s how they unlock their phone, access important services and pay for goods. Allow them to use the same powerful solution in their working lives with BioStore’s biometric solutions.