View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
October 17, 2022

WeChat introduces new payment method using palm print

WeChat, a China-based social media platform owned by Tencent, has reportedly unveiled a palm print-enabled mini programme to settle payments.

Free Whitepaper
img

A comprehensive guide to cross-border commerce

Is your business ready for the cross-border payments boom? The chances are that your brand is broadening its horizons, lured by the appeal of high-growth markets in South America, Asia and Africa. This means courting both opportunity and risk. Successful firms will adapt quickly to currency fluctuations, regulatory divergence and unfamiliar payment media. Struggling ones will see costs climb as they stumble over technical hurdles and conversion rates slow to a trickle.

Businesses needn’t swim against the tide of cross-border payment flows. Creating a speedy, compliant, cost-effective solution is possible – and an experienced partner can help. Worldline have created a comprehensive guide covering the latest developments in the global payment landscape and how brands can create a seamless cross-border payment solution. Fill in your details to find out more.

by Worldline
Enter your details here to receive your free Whitepaper.

The new alternative payments option will allow customers to pay for their purchases with a hand swipe. 

The payments method, developed by Tencent subsidiary Tenpay Payment Technology, has been trialled in Shenzhen.   

The mini programme, bearing the slogan ‘your palm represents you’, comes with a scanning device provided by WeChat Pay, to enable palm print payments.

The device features a display screen and a palm recognition area.

Users are first required to activate the function and scan their palm print in the specified area to make payments.

After activating the payment function on the scanning device, users can also view corresponding information in their mini programme.

Apart from passwords, fingerprints and facial recognition modes of payment, the new method seeks to diversify WeChat payment ecosystem.

The palm print-enabled payment option can be used across offline consumer markets including restaurants, supermarkets and community group buying channels.

WeChat, which reportedly commenced research on the new technology in 2021, is yet to take a call on the mini programme’s widescale operations.

According to reports, work is underway to make improvements to the function.

As the mini programme needs to be coordinated with WeChat Pay’s hardware equipment, the new payment method is expected to generate more profits for the firm.

In November 2021, EasyTransfer partnered with Tecent subsidiaries Tencent Financial Technology, and payment platform Tenpay to provide online tuition payments for Chinese students studying overseas.     

Free Whitepaper
img

A comprehensive guide to cross-border commerce

Is your business ready for the cross-border payments boom? The chances are that your brand is broadening its horizons, lured by the appeal of high-growth markets in South America, Asia and Africa. This means courting both opportunity and risk. Successful firms will adapt quickly to currency fluctuations, regulatory divergence and unfamiliar payment media. Struggling ones will see costs climb as they stumble over technical hurdles and conversion rates slow to a trickle.

Businesses needn’t swim against the tide of cross-border payment flows. Creating a speedy, compliant, cost-effective solution is possible – and an experienced partner can help. Worldline have created a comprehensive guide covering the latest developments in the global payment landscape and how brands can create a seamless cross-border payment solution. Fill in your details to find out more.

by Worldline
Enter your details here to receive your free Whitepaper.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Electronic Payments International