Visa and Tencent bring palm payments to Singapore

Editorial

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Beneath the deal, Visa cardholders from collaborating Singapore banks, together with DBS, OCBC, and UOB, will participate in a pilot programme.

Individuals will perform a one-time enrolment on the service provider level of sale, the place they are going to be invited to faucet their Visa card, scan their palm and full authentication.

As soon as they’ve enrolled, a Visa fee token will probably be certain to their palm biometric template, permitting them to make future funds at collaborating retailers by merely waving their palm – no playing cards or telephones required.

Stressing its safety credentials, Tencent says it operates a two-step course of that verifies each palm prints and the distinctive patterns of veins beneath the pores and skin. Consumer knowledge is encrypted for storage in a fashion that’s irreversible, stopping decryption, theft, or reuse by different third events.

Adeline Kim, Visa nation supervisor, Singapore and Brunei, says: “Based mostly on our biometrics examine, near seven in 10 Singapore shoppers see this as a safe approach to pay. Our goal is to boost the fee expertise and be certain that our prospects can get pleasure from seamless transactions with the very best degree of safety.”