look news india
What is SmilePay: If you also have a bank account in Federal Bank, then this news is useful for you. Yes, private sector bank Federal Bank has started a facial payment system called SmilePay. With this, customers will be able to pay money just by smiling at the camera. After the launch of this service, you will not need cash, card or mobile for money transactions. Its use has started in some selected branches through Reliance Retail and Ananya Birla's Independent Micro Finance.
Started as a pilot project
Right now this facility has been started as a pilot project. In this system based on 'BHIM Aadhaar Pay', biometric data is used to withdraw money from the account linked to the Aadhaar number. The information given about this system states that a completely secure facial recognition system will be used by UIDAI for this. Let's know about Smile Pay in detail and also know how it will work?
What is Smilepay?
According to the press release issued by Federal Bank, SmilePay is the first payment system of its kind in the country. It uses upgraded face recognition technology built on UIDAI's BHIM Aadhaar Pay. SmilePay enables the user to make payment by scanning his face. After the launch of this facility, customers will be able to make payment to the merchant even without a card or mobile. The entire transaction process will be completed in two steps. Federal Bank CDO Indranil Pandit said that after cash to card, payment by QR code, now payment with your one smile is very interesting. We hope that people will like it a lot.
Features and Benefits of SmilePay
Through SmilePay, you can complete your transaction without carrying cash, card or mobile device. Along with this, the introduction of this facility will also provide relief from the crowd at the counter. Secure and reliable transactions will be done on the basis of secure UIDAI face recognition service. SmilePay facility will be available exclusively for Federal Bank customers. For this, both the merchant and the customer will need to have an account in the bank. Federal Bank is also planning to expand this scheme in the coming time.
How will payment be made through Smile Pay?
Customers visiting Federal Bank shops must have the FED MERCHANT app on their mobile. When you have to pay the bill, select Smile Pay at the checkout. The shopkeeper will initiate the payment through the FED MERCHANT app by entering the customer's Aadhaar number. The shopkeeper's mobile camera will scan the customer's face and match it with the face recognition data based on the UIDAI system. If it is found correct, the payment will be made immediately and the money will be deducted from the customer's account. This money will be deposited in the shopkeeper's Federal Bank account. When the payment is processed, the FED MERCHANT app will inform you that the payment has been completed.