News of the Cyber World

[kyonides]

JPMorgan will let consumers pay

with their face or palm instead of a card

JPMorgan Chase & Co. is planning to test new technology that would let consumers pay with their palms or faces at certain US merchants.

The bank, home to one of the world’s biggest payment-processing businesses, plans to roll out the service to its broader base of US merchant clients if the pilot program goes well, according to a statement Thursday. The pilot may include a Formula 1 race in Miami as well as some brick-and-mortar stores.
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JPMorgan is seizing on the rising popularity of biometrics technology, which uses unique body measurements to authenticate a person’s identity. The technology is expected to account for roughly $5.8 trillion in transactions and 3 billion users by 2026, JPMorgan said, citing Goode Intelligence.

Here’s how it works: Customers enroll their palm or face through an in-store process. Then, at checkout, they scan their biometric to complete the transaction and get a receipt.

The new offering is from JPMorgan’s sprawling payments business, which competes with the likes of Fidelity National Information Services Inc. and Fiserv Inc. to offer payment-processing technology to e-commerce sites and retailers around the world. The technology isn’t just for JPMorgan cardholders. Consumers will be able to link many different forms of payment to JPMorgan’s new system.

 To me it sounds pretty much like a good candidate for the mark of the beast. I doubt most people would ever oppose it for they'll claim it's a highly convenient payment method for everybody, including people and businesses.