Caixin
Mar 26, 2015 03:33 PM

Shrewd Smiles as Online Bankers Test New Tech

(Beijing) -- E-commerce giant Alibaba Group has asked regulators for permission to insert biometric identification functions into its mobile online payment services.

The company's latest technological triumph known as "Smile to Pay" – developed by Alibaba affiliate Ant Financial Services Group and unveiled in March at a trade show in Germany – could be the next leap forward for China's fast-growing online banking sector. Ant controls the Alipay payment system through which Alibaba clients' transactions are processed.

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