Smart Store with Biometric Check-Out
Unique “look and pay” shopping experience powered by BioID and showcased at Mastercard Innovation Forum
Nuremberg – May 17th, 2023
At the Mastercard Innovation Forum on 27th April 2023 in the Union Hall in Frankfurt under the motto “Together Towards Tomorrow”, leading experts of the payment industry discussed how the triad of digitalization, innovation, and sustainability can succeed in the future. The event was well attended with approximately 200 attendees – among them customers and partners of Mastercard.
The day was filled with a wide range of exciting innovation topics. Apart from the Mercedes Pay showcase, BioID contributed to one of the trends of the payment industry – an innovative Smart Store solution powered by AI technology.
To be subsequently rolled out as a pilot in Europe, BioID enables a unique “look and pay” shopping experience at the Point of Sale.
In particular, enrolled card-holders can shop autonomously and enjoy a quick and secure check-out process at participating merchants by the way they look at check-out, without needing to present a card or a PIN. Such a shopping experience is now a part of Kende Retail’s “Take It Easy” solution delivering an autonomous customer journey for the retail market from entering the store, shopping, and checkout.
BioID’s highly robust and accurate face recognition facilitates the 24/7 self-service user experience while keeping the entire shopping journey discrete, and secure.
Use cases for BioID’s Web Service (BWS) are wide-ranging.
Any service or application reliant on assured user presence and verification will benefit from integrating BioID’s face recognition.
In particular, payment industries can benefit from our BWS in the customer journey and take a step further toward a smart store solution with AI technology. In an autonomous smart store – powered by BWS – enrolled cardholders simply enter the store with a simple look, shop, and leave without the need for a Point of Sales checkout.
BioID technology is revolutionizing the shopping experience by offering a unique “look and pay” solution for the retail market.
This technology enables a seamless self-service customer journey opening up a wide range of business models for the retailers including but not limited to 24×7, store-inside-a-store, as well as age-restricted shopping (e.g. tobacco, alcohol, etc.)
“Look and Pay” is a win-win customer journey for both customers and retailers.
Not only does it offer customers shopping freedom, as well as convenience in terms of when and where to shop, but it also helps retailers to increase sales and win customer loyalty via extended retail channels and business hours.
Most importantly, BioID technology can be easily integrated into existing retail ecosystems, making it a cost-effective solution available to merchants of all sizes.
“Look and Pay“ in Action!
As technology continues to evolve, the way we pay is also changing. Biometric Payment is one of the technologies providing this. Biometrics for payment authentication is likely to revolutionize the way we pay for goods and services, making transactions more secure and convenient.
Benefits of Biometric Payments
Biometric Payment powered by BioID’s Face Identification
BioID’s Identify is a one-to-many face recognition technology. Given a selfie captured by the user, it allows you to identify who the user is from a database without any additional information. The technology is typically secured by our proprietary liveness detection ensuring that the person is real to prevent spoofing or fraud attacks.
Face Identification is used in a wide range of applications including such as detection of duplicates in databases, token-less access control, similarity search, etc.
Try it out yourself:
The positive response of the said showcase signifies that a new shopping trend is here and emerging. More such showcases are already in the pipeline, BioID is working closely with partners such as Mastercard and Kende Retail in bringing the solutions to the market.
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