BBVA trials facial recognition payments

BBVA has deployed a new facial recognition payment system, where a camera booth next to the cash registers recognises the customers and automatically bills their accounts.

Currently being trialled by BBVA employees at its Madrid headquarters, the system was developed by startup Veridas – a joint venture between BBVA and Das-Nano. It forms part of BBVA’s strategy to lead the development of frictionless payments.

In the bank’s cafes, employees can also use the Selfie & Go mobile app to order their drinks ahead, before being automatically charged when they pick up their order. For the retailer, it saves time and helps increase sales by making the process of buying and paying more efficient.

Guillermo Sanchez, who heads the project for BBVA’s global payments team, said: ”It’s fast, secure, and will fundamentally change the ways people pay for goods and services – literally taking things at face value.”

BBVA has also announced the creation of BBVA Next Technologies – an amalgamation of two existing companies: BEEVA, which specialised in cloud computing and big data; and i4S, which focused on cyber security.

The company, which is based across Spain and Mexico, employs more than 1,200 technology experts. The software engineers will be working on various new technologies, including big data, artificial intelligence, blockchain and cyber security.

Ricardo Jurado, chief executive of Next Technologies, said: “BBVA Next Technologies is a company that specialises in emerging and disruptive technologies, that strives to stay ahead of the curve, looks at the future and aims to recruit the best tech talent.”

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