VTB and Visa test pay-by-glance technology
Russia’s VTB Bank worked with Visa and a local fintech company on a service enabling restaurant customers to pay by looking at a camera.
VTB and O.Vision, a participant in the bank’s accelerator programme, were testing the system at the KiO Kitech chain in Saint Petersburg.
Customers first installed the O.Vision mobile app, registered their phone number, enrolled their facial biometrics and linked a payment card. They could then pay by looking at the camera on the restaurant payment terminal.
VTB said O.Vision’s facial recognition algorithm had been tested against a database containing more than one million biometric records and could identify a customer and process payment within seconds.
Customers paying through the system were to receive a 20% discount during the first four months after launch.
VTB representative Yulia Kopytova said such solutions could improve customer service at merchants and support the development of future ecosystems.
Mongolian Fintech Association