Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Founder and CEO in ‘Divorce’ With Dating App Momo
Tencent Bets Big on Chinese E-Sport Firm, Leading $100 Million Funding Round
Caixin Investigation Uncovers Shady Business In Myanmar
LATEST
Xiaomi Leads India’s Smartphone Market with 26.1% Share
Trending in China: Are China’s Blue-Collar Wages Really Higher Than Graduate Salaries?
Trending in China: An End to Spam Calls? Real Estate Company to Give Money to Anyone Who Receives One
Trending in China: Patriotic War Film Overpowers Foreign-Made Feature, But Not Everyone Is Impressed
Shopify Partners with TikTok to Drive Online Sales
Lawson Tests Next Step of Convenience Store Evolution in China
PUBG Creator Krafton Hires Bankers for Possible Record IPO
Mobile Browser Crackdown Ensnares Big Names
Chinese Biotech Startup Genecast Bags $149 Million in Series E Funding Round
Founder and CEO in ‘Divorce’ With Dating App Momo
Chinese Medical Rehabilitation Robot Maker Fourier Closes $15 Million Funding Round
Caixin Investigation Uncovers Shady Business In Myanmar
Tencent Bets Big on Chinese E-Sport Firm, Leading $100 Million Funding Round
Chinese Companies Line Up to Take Advantage of Huawei’s U.S. Troubles
Trending in China: Social Media Applauds Jack Ma’s Detailed Critique of China’s Financial Sector
Trending in China: Female Student Fights ‘Period-Shaming’ – Social Media Discusses the Pros and Cons
Chinese Auto Tech Startup Closes $194 Million Series A Funding Round Led by Baidu
iQiyi to Create Genre-Specific Content to Meet Different Audience Demands
Gaw Capital Inks JV With Manbang Group to Develop Smart Logistics Properties in China
Tesla Recalls Nearly 50,000 U.S.-Made Cars in China over Suspension Problems

By Isabelle Li / Dec 14, 2018 07:40 PM / Business & Tech

AliPay, the biggest mobile payment app in China, released its latest face-scan payment product named Dragonfly on Thursday.

Facial recognition payment technology has been around in supermarkets, hospitals and even some KFCs in China since last year, but Dragonfly will further lower the installation cost for merchants by 80%, Albaba-backed AliPay says.

Cashless payments through mobile apps can be made almost anywhere in China, from street food stalls to government halls, with AliPay and Wechat Pay being the two dominant players.

Statistics from Alibaba during this year’s “Double 11” shopping festival also suggest that payments through face and fingerprint scans now make up 60% of all transactions. The company says that as facial recognition technology takes the place of QR codes, “paying by smiling” will most likely experience explosive growth over the next three years.

Read more: Alipay and WeChat May Have Grown Too Big to Fail

Share this article
Open WeChat and scan the QR code