Alipay reveals biometric payment innovations in Beijing
16 October 2014 11:14 GMT

Alipay clears 80 million transactions per day, including 45 million transactions through its Alipay Wallet mobile app

The mobile payments wing of Chinese e-commerce giant Alibaba revealed some its biometric ambitions at a demonstration in China’s capital this week, with staff stressing that fingerprints and facial recognition will play a big role in AliPay’s future.

At a show in a converted former factory, AliPay set up a store cashier equipped with fingerprint sensors, where people could pay for goods with Alipay Wallet’s application, reported the Wall Street Journal.

Already featured on Huawei’s Ascend Mate 7 smartphone, the firm’s Alipay Touch system allows users to make mobile payments through Alipay Wallet by swiping their fingers instead of entering lengthy passwords.

“Biological identification will become very important in the future,” Cao Kai, a senior director of Ant Financial Services Group, the Alibaba affiliate that owns Alipay, told WSJ.

Alipay clears 80 million transactions per day, including 45 million transactions through its Alipay Wallet mobile app, the company said on Thursday.

Alipay’s plans to use facial recognition were also highlighted at the event – it is currently working with Chinese firm Megvii on the technology.

In separate developments this week, Alipay revealed that it was launching a service for US retailers called ePass. The payments firm is currently working in beta mode with retailers such as luxury deal site Gilt.com, The Gap and H&M.

And in another sign of Alibaba’s resolve, on Thursday the firm reported that it had changed the name of its Alipay financial services affiliate to Ant Financial Services Group.

The firm said the rebranding of the Alipay unit, whose legal name is Zhejiang Ant Small and Micro Financial Services Group Co, is part of a strategy to accelerate development. Executives said that the name 'Ant' was chosen to symbolize the potential strength of a number of smaller brands working together, executives said.

Related articles

China’s Alibaba joins Fido Alliance amid mobile payment momentum
23/09/14
Alipay and Huawei roll out biometric security for mobile payments
02/09/14