America’s largest bank and one of the largest in the world, J.P. Morgan, is preparing to launch biometric payments next year and is currently carrying out pilot projects.
J.P. Morgan has chosen PopID – which verifies a person’s identity via facial recognition, among other methods – as the backbone for the project.
The massive financial corporation is clearly unwilling to be left behind the likes of Mastercard or Visa, who are both implementing biometrics-powered payments.
According to the bank, one of the first events where this was trialed was the Formula 1 race in Miami, and that was also the first time this happened at a Formula 1 venue.
The ultimate goal is to expand authentication based on individuals’ fingerprints, palms, and faces to anyone interested, but with a focus on stores, restaurants, and various event venues.
