Shinhan Card Introduces 'Shinhan FacePay' at Homeplus: "First Major Retail Chain"

Homeplus World Cup Branch Launch
Payment by Facial Recognition Without Card or Smartphone at Dedicated Checkout

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 18th that it will launch 'Shinhan FacePay,' a service that allows payment and membership point accumulation using only facial recognition, at Homeplus World Cup Branch. This is the first time for a large retail store.

This service can be conveniently used at a dedicated Shinhan FacePay checkout counter after verifying identity and registering payment card and facial information once at the Shinhan FacePay unmanned registration machine installed at the customer center on the first floor of Homeplus World Cup Branch. In particular, MyHomeplus Shinhan Card members can automatically accumulate membership points just by paying with Shinhan FacePay.

This is part of Shinhan Financial Group's 'Digilog' strategy, selected as the group's digital transformation direction to enhance the value of customers, companies, and employees through 'accelerating the virtuous cycle of digital and analog.'

To commemorate the launch of the Homeplus Shinhan FacePay service, Shinhan Card has also prepared an event. Until the 30th of next month, customers who pay 50,000 KRW or more with Shinhan FacePay at Homeplus World Cup Branch will receive a 5,000 KRW cashback and a bundle of 5 Shin Ramyun instant noodles on-site. This offer is limited to one time per customer and the first 3,000 customers.

Shinhan FacePay, selected as an innovative financial service by the Financial Services Commission in 2019, was first commercialized domestically last year at Hanyang University. Afterwards, a hybrid store allowing entry and payment using only facial recognition was introduced at CU Hanyang University Dormitory Branch.

Yoo Tae-hyun, Head of Digital First Division at Shinhan Card, said, "Shinhan FacePay is a payment innovation model that best fits the recent trends of unmanned and contactless services, leading the payment market where the face becomes the wallet. We will continue to propose various business models utilizing Shinhan FacePay to become the standard of future payments."