Telia & OP Bank are Helping Merchants Without Fixed Line Connections
Laura McQuarrie — August 21, 2019 — Lifestyle
References: teliacompany & nfcworld
International telecommunication services provider Telia is working with OP Bank to show how high-speed 5G networks and face recognition payments can enhance merchant operations. Specifically, for the project, the partners are helping merchants without a fixed line connection, and making it possible for customers to check out with just their face and pre-saved credit card details.
A test of the technology was carried out at a car park in Vallila, where customers with a Pivo mobile wallet could use a tablet-based face recognition system to pay for ice cream from a van. Powered by 5G technology, the system quickly recognizes the biometric template supplied by a Pivo user and rapidly verifies the transaction.
As well as helping to speed up business, 5G is anticipated to increase the security of mobile connections.
A test of the technology was carried out at a car park in Vallila, where customers with a Pivo mobile wallet could use a tablet-based face recognition system to pay for ice cream from a van. Powered by 5G technology, the system quickly recognizes the biometric template supplied by a Pivo user and rapidly verifies the transaction.
As well as helping to speed up business, 5G is anticipated to increase the security of mobile connections.
Trend Themes
1. 5G and Face Recognition Payments - Utilizing high-speed 5G networks and facial recognition technology to improve merchant operations and increase security.
2. Mobile Wallets - Allowing customers to make payments with pre-saved credit card details.
3. Tablet-based Transactions - Utilizing tablets and mobile devices to allow for quick and easy transactions.
Industry Implications
1. Telecommunications - Developing high-speed 5G networks to enable faster and more secure payment transactions.
2. Banking and Finance - Partnering with merchants to provide customers with secure payment options through mobile wallets.
3. Retail - Exploring new payment technologies to improve customer experience and increase efficiency of transactions.
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