Romanian company is developing an application that allows customers to pay with a selfie
Tech Source Consulting SRL has filed an application for a patent at the European Union for Intellectual Property Office – EUIPO. Named „PayByFace,” the trade mark is an application that provides user authentication services using hardware and software biometric technology for e-commerce transactions. PayByFace allows consumers to simply use their own face as a means to buy and sell goods and services.
„Carrying your debit and credit cards everywhere you go can easily be lost or stolen and the 4-digit PIN is not very secure. With PayByFace it’s like an Uber app for making payments when you go shopping. You no longer need to carry your cards or cash, simply use our proprietary face recognition cardless payment app and just take a selfie to buy things at participating merchants around town.”, said Mihai Draghici, CEO & Founder at Tech Source Consulting SRL.
„ We can offer merchants an upgrade to use our cardless face recognition paymentprocessing system that integrates into most current POS systems. We have partnered with the 5togo coffee franchise business in Bucharest as our first retail location to perform a live in-store test for “PayByFace.” added Mihai.
Mihai will be one of the experts invited to participate in the panel dedicated to biometrics organized at the international fintech conference Banking 4.0, an event dedicated to emerging technologies that will change the face of the banking industry and financial services.
Anders Olofsson – former Head of Payments Finastra
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
