New deployments, technologies and markets are driving the implementation of biometric payment systems for in-store and online purchases.
Formula 1 racing’s Miami Grand Prix is expanding biometric payments for fans. Qualcomm is launching a new palm payment terminal with Telpo. A patented palm biometrics system, with its contactless palm recognition, developed by Astra Tech is poised to be rolled out in UAE supermarkets.
Biometric Registration and Payments Deployed for F1 Miami Customers
Formula 1 racing is the latest sport to embrace biometric payments on what looks like a long-term basis. A release from the Formula 1 Crypto.com Miami Grand Prix 2024 says the event is expanding its relationship with J.P. Morgan Payments to enable customers to buy merchandise at retail outlets using palm biometrics or facial recognition.
The biometric payments system will be deployed both in stores on the Miami International Autodrome campus and for online purchases. South Florida Motorsports (“SFM”), which organises the Grand Prix, claims the intention is to improve the retail experience for fans by reducing friction and time needed to make purchases.
J.P. Morgan Payments’ system leverages a familiar one-time mobile biometric enrolment process in which users can register their palm or facial scan, which is then matched at the point of purchase, either at an on-site shop or via a newly launched e-commerce retail store.
The SFM/J.P. Morgan collaboration allows for the sharing of customers’ personal data by giving SFM access to J.P. Morgan Payments’ Commerce Centre, which allows the company to configure payment settings, search transaction history and access customer purchase data.
US-China Collaboration for Retail Palm Payments
Last year, Invest in China reported that US chip provider Qualcomm highlighted China as a pivotal business partner and valued customer. Qualcomm sees huge opportunities in partnering with Chinese companies in 5G, artificial intelligence, the internet of things and intelligent connected vehicles, the outlet said.
China has always been Qualcomm’s most important global market. More than half of Qualcomm’s global revenue comes from the Chinese market. The company has maintained close cooperation with Chinese enterprises over the years to promote technological development and the launch of products in the global market, chairman of Qualcomm China Frank Meng said on the sidelines of Qualcomm’s 2023 annual tech summit.
Now, Qualcomm has partnered with Chinese smart terminal provider Telpo to launch a new palm payment device, the Telpo P105, a biometric payment “option” for retail purchases.
Read More: Palm payment systems linked to IDs are being rolled out in retail outlets in USA and UAE