Future technology is "people-oriented" and the era of "face payment" has officially arrived

China UnionPay's "Face Payment" shines at CIIE

The financial industry covers a wide range of fields, including banking, securities, funds, gold, foreign exchange, options, etc. However, what is closely related to everyone is the payment process, which may seem small but accumulates to form a tower. From the World Internet Conference to the China International Financial Expo, UnionPay has made a series of shining appearances with its "face payment" products, announcing the official arrival of the "face payment" era.

China UnionPay is known as the "national team" in the field of financial payment. It is a Chinese bank card association approved by the People's Bank of China and is at the core hub of my country's bank card industry. The launch of UnionPay's "Face Payment" is undoubtedly of far-reaching significance for strengthening mobile payment security, improving people's consumption experience, promoting application innovation in the financial field, and enabling the development of the real economy.

At present, UnionPay's "Face Payment" has been put into commercial use, and has achieved four major innovations: no intermediary, high efficiency, interconnection, and security to build a diversified ecological service scenario. "Face Payment" allows users to achieve efficient payment with just a face without relying on mobile terminals as a medium, and supports the interconnection of UnionPay bank cards. Of course, financial security is the top priority. On the one hand, it is the focus of public concern, and on the other hand, it is the key to the innovation of China UnionPay's "Face Payment".

Security technology upgrade behind “face payment”

Traditional mobile quick payment uses passwords and fingerprints as the main verification media. Passwords are easy to guess or leak, and fingerprints are easy to copy and crack by technical means. It is difficult to achieve a perfect balance between convenience and security. Especially today when small-amount password-free payments are becoming increasingly popular, people are in urgent need of a safer and more convenient payment method, so face-scanning payment came into being.

It is reported that most of UnionPay's "face payment" payment terminals are equipped with 3D vision modules from Shenzhen Obbec Technology Co., Ltd., a leading company in the field of 3D vision in China. Through the 3D structured light technology with a higher security level, it combines convenience and security. Currently, 3D structured light technology has been widely used in the field of face payment, and the three giants, UnionPay, Alipay, and WeChat, have achieved far-reaching layout in the market segmentation.

As the name suggests, the technical principle of 3D structured light is to depict the high-precision structure of the face through tens of thousands of light detection points, while taking into account the advantages of low power consumption and moderate algorithm difficulty, making it 20 times safer than fingerprint recognition. Within a reasonable face payment application distance, 3D structured light can be said to be a biometric verification method with higher accuracy and security. Financial security is more important than anything else, and it concerns the "purses" of hundreds of millions of people. 3D structured light technology not only realizes security upgrades and application innovations in the field of financial payment, but will also become a new breakthrough in realizing future smart life.

“Face-scanning” payment starts with promoting technological and financial innovation

With the official entry of UnionPay's "face payment", it is foreseeable that "face payment" will quickly sweep the global mobile payment application scenarios with its characteristics of no medium, high efficiency and greater security, bringing better consumer experience to the public and greatly improving the capital circulation efficiency of merchants. Face payment is just the beginning. 3D visual solutions represented by 3D structured light will become the key for all forms of smart terminals to perceive everything and "understand" the world.

At the China UnionPay exhibition area, as Mr. Huang Yuanhao, founder of Shenzhen Obbec Technology Co., Ltd. said: Current applications are mostly mobile-centric, while the future emphasizes "people-centric". The logic of achieving "people-centric" customized services is that your face is unique in the world, and highly intelligent AI terminals have the ability to "know you" and "understand you", thereby achieving more efficient, accurate, secure and personalized services.

At present, Obbec's 3D vision module has a liveness detection accuracy of up to 1 mm, and the number of patents in the field of 3D sensing technology ranks among the top three in the world, becoming a model for Chinese private enterprises to achieve technological innovation. Therefore, we see that when representatives of the "national team" such as China UnionPay launch heavyweight "face payment" products, they choose Obbec's core technology and R&D products as the first choice.

Coinciding with the first anniversary of General Secretary Xi Jinping's speech in support of private enterprises, the important policy of "unswervingly developing and expanding the private economy" is still fresh in our minds. The full rollout of face-scanning payment applications at this International Financial Expo is a major trend in the transformation of payment methods in the future. With the rise of more and more high-tech companies and the country's emphasis on and support for private economy and high technology, private enterprises will better play an innovative role, surpass and lead the trend of the entire world of science and technology finance, and become the backbone of promoting the development of science and technology finance.