Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Cover Story: How Will New Data Security Rules Reshape China’s Internet Industry?
China Smartphone Giant Xiaomi Shifts Gears With Plan to Build Electric Car Factory
Tesla to Expand Production at Shanghai Plant
LATEST
Tesla to Expand Production at Shanghai Plant
China Smartphone Giant Xiaomi Shifts Gears With Plan to Build Electric Car Factory
Cover Story: How Will New Data Security Rules Reshape China’s Internet Industry?
Chinese Streaming Giants’ Losses Grow Along With Their Revenues
Chongqing Changan Teams Up With Huawei to Roll Out Smart Electric Vehicle
Temasek’s Appetite Grows for Investing in Food Startups
Caixin Summit: Executive at Baidu’s Self-Driving Car Unit Trumpets Safety Benefits of Self-Driving Cars
Huawei Donates Operating System to Chinese Tech Nonprofit
Chipmaker TSMC Assures Customer Confidentiality in Data Submission to Washington
Shanghai Esports Team Wins League of Legends World Championship
Dozens of Apps Named and Shamed for Privacy Violations
TikTok Hits the Telly, CATL’s New American Buyer
Update: Tencent Unveils Three Computer Chips of Its Own Design
ByteDance Founder Quits Board, Source Says
Tencent Unveils Three Computer Chips of Its Own Design
Hong Kong Airport Authority Plans Self-Driving Bus Service
Factory Gas Transformed Into Pig Food as Researchers Pioneer Soybean Alternative
GAC Aion Invests $52.6 Million to Test Out Self-Developed EV Batteries
With Apple Veteran Onboard, Oppo Pushes Into Health-Focused Wearables
SK Targets New EV Battery Technology Two Years Ahead of Rivals

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