J.P. Morgan Payments starts face ID payment pilot with PopID technology

J.P. Morgan Payments, part of JPMorgan Chase (NYSE:JPM), expanded its alliance with PopID to start a pilot program that will allow shoppers to “pay by face” at some merchants across the U.S., the companies said on Tuesday.
The payment system “allows shoppers to complete transactions more seamlessly, removing the need for customers to pull out their phones or credit cards,” the companies said.
PopID research indicates that the platform cut ordering and check-out times by up to 90 seconds per transaction and can increase ticket size by 4%, it said.
“This is a giant step forward in helping our clients reimagine the entire retail experience for their customers and bringing best-in-class biometrics payments solutions to the market,” said Jean-Marc Thienpont, managing director, Omnichannel & Biometric Solutions at J.P. Morgan Payments (JPM).
Whataburger already accepts biometric payments through PopID’s product and plans to extend it to payments processing powered by J.P. Morgan Payments.
When a customer enrolls in the system, a photo is taken of the customer’s face and is converted into a template, encrypted and securely stored in the PopID cloud, it said. When a purchase is initiated, the template of the transaction is matched against the stored template and tells the merchant if they match.
The technology is consent-driven and customers can opt in or opt out of the program at any time, they said.

Tags: JPM