Consumers and merchants can now pay for goods and services with PayByFace® — an enhanced checkout and payment system that allows registered users to complete a transaction using facial recognition.
„Similar to CLEAR, the airport recognition service that allows you to confirm your identity and pass through security, PayByFace® safely stores your unique biometric data to use once you’re ready to go shopping. It’s an ideal choice for people on-the-go and for those who don’t want to risk having their debit or credit cards stolen.”, according to the press release.
“We’re thrilled to bring a twist to the digital payment space,” said Founder & CEO Mihai Draghici. “We’ve simplified how consumers can pay for their favorite goods and services without their phones or wallets. PayByFace® is much more secure but relevant during a time when most people are searching for ways to untether themselves from a mobile device in the event they forget their phone at home or just want to actively be more present in their day-to-day.”
„For merchants, it’s an easy program to implement for your business to take advantage of the opportunities, of which PayByFace® has implemented PAS 499 Certified Biometric Onboarding in a partnership with Facebanx.com’s unique IDauth.me live streaming technology to verify the identity of customers and stop fraudulent transactions.”, the company said.
The company’s leadership also expects to roll-out more innovative updates globally with the help of senior advisors, such as Nicola Coscione from Sport World.
“I am more than honored to join the PayByFace® Advisory Board, providing support for their work transforming the future of payment services. I look forward to working with the team to help PayByFace® break into worldwide markets, including the world of motorsport that I have been involved in throughout my career. This is only the start line for PayByFace®, and I am excited to be alongside their journey of innovation,” said Coscione.
Founded in October 2019 by global entrepreneur Mihai Draghici and Co-Founder Shefket Robelli, PayByFace®’s mission is to provide a seamless and secure digital payment ecosystem for a faster and more convenient shopping experience. PayByFace® also aims to bring a high-end solution to retailers to provide additional payment options to their customers.
PayByFace® is headquartered in Bucharest Romania (engineering, management & support) and Zurich in Switzerland (sales, marketing & customer service) with additional exclusive partnerships throughout the world.
„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”