While the QR code powered payment systems are getting popular in most parts of the world, China is quickly advancing towards the facial-recognition payment system.
Hailed as a frictionless mode of payment, it aims to bring mobile payment system to the less-tech savvy population who found using QR codes, tricky. Alibaba-backed Alipay is leading the facial recognition payment system and has introduced the new payment system in over 300 cities. Tencent-backed Wechat Pay is also not far behind.
Last year both AliPay and WeChat Pay jointly accounted for over 90% of mobile payments in a tech-enabled Chinese population.
