China’s top fintech adviser sees ‘bright prospects’ for facial recognition payment systems

Despite concerns over data privacy, the use of facial recognition for payments will expand rapidly in China, says fintech official. — SCMP

China’s top tech adviser for the financial sector sees “bright prospects” for facial recognition payment systems despite lingering concerns over privacy and data security.

The artificial recognition-powered payment method is expected to be widely used across the country because it offers convenience and efficiency, according to Chen Jing, a member of the State Council’s Advisory Committee for State Information and former chief of the central bank’s technology division.