Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Baidu Search, Sina Weibo on ‘Secret List’ of Chinese Apps Banned in India’s Latest Purge
China Home to Six of the World’s Top 10 Unicorns, Hurun Report Says
Trending in China: How Cute Rabbit Ears Are On the Frontline in Fight Between Delivery Firms
LATEST
Astra Inks Oxford Vaccine Production Deal with China’s Kangtai
Trending Story: Are Any New Graduates Really Worth 2 Million Yuan a Year? Netizens Discuss!
Trending in China: Popcorn or Cheaper Tickets - What Would Make You Return to the Cinema?
Tesla Challenger Xpeng Raises $400 Million Before Planned U.S. IPO
CATL Announces it Will Supply Batteries for Mercedes-Benz New Electric Sedan
TikTok Sees No Slowdown in Global Popularity Despite Indian Ban and U.S. Threats
Baidu Search, Sina Weibo on ‘Secret List’ of Chinese Apps Banned in India’s Latest Purge
Trending in China: Choosing a College Major - For Love or Money?
Evergrande Health Forges Ahead With Six New Electric Vehicles
Trending in China: How Cute Rabbit Ears Are On the Frontline in Fight Between Delivery Firms
Chinese Company Files Lawsuit Against Apple’s Siri for Patent Infringement Worth Billions
China Home to Six of the World’s Top 10 Unicorns, Hurun Report Says
Trending in China: Can Music Streamers Help Users’ Depression?
Core Parts of China’s Beidou Satellite System ‘100% Made in China’
Trending in China: Xiaomi CEO’s Shows How Best To Harness China’s Social Media Humor for Serious Business
Apple Takes Down Over 30,000 Apps from China Store Amid Government Crackdown
Chinese Chipmaker SMIC to Establish Joint Venture for Wafer Production
Microsoft Said Plan to Acquire TikTok Will Continue
Uber Abandons Plan to Move Regional Headquarters to Hong Kong
Trending in China: Undergraduate Degree in Housekeeping — Valuable Asset or Waste of Resources?

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