A Canadian company is helping make facial recognition payment technology a retail reality.
Ontario-based SnapPay Inc., which provides payment solutions that are meant to help businesses grow, said Wednesday it would offer this payment method in North America to make the customer retail experience more convenient.
"By enabling consumers to pay with their ‘face’ North American merchants, particularly those with self-service kiosks, are providing an unprecedented level of convenience and speed in the checkout process, to a lucrative customer segment that increasingly demands it," Spencer Xu, CEO and founder of SnapPay, said.
Facial recognition technology is an increasingly popular method of payment among global consumers.
Facial recognition technology purportedly allows people to pay more easily via "a qualified digital snapshot"; while allowing businesses to move people through the checkout process that much more quickly and at the same time stay current with the most recent high-tech trends for retail services. It is estimated the market for this technology will double by 2024, according to Mordor Intelligence.
The company will be exhibiting this new means of paying for goods on Wednesday at the Retail Council of Canada’s Retail West show in Vancouver and at the Grocery Innovations Canada show in Toronto next week.
We’re looking forward to being first to see this new technology in use at Retail West.
"Retailers in Canada are eager to explore technologies that will help improve the retail experience for their customers," Mary Markou, senior director of sponsorship for the Retail Council of Canada, said. "SnapPay is a very interesting new player offering new solutions in the Canadian payments ecosystem."