CUBOX announced on the 1st that it has entered the easy payment business using artificial intelligence (AI) facial recognition. The company plans to develop a full-scale AI facial recognition easy payment solution by signing a memorandum of understanding (MOU) with NICE Information & Telecommunication, the leading domestic payment company.
AI facial recognition easy payment is a service that allows customers to register their facial photos through an application and link their credit card information to make payments online and offline using only facial authentication. As an easy payment service provider, CUBOX has begun full-scale development of CUBOX-PAY (tentative name) together with NICE Information & Telecommunication. Through CUBOX-PAY, customers will be able to make payments easily just by looking at the camera without complicated procedures.
CUBOX plans to first introduce the facial recognition-based easy payment service at duty-free shops. To this end, it signed an MOU with Shilla Duty Free in February. This service is linked with the smart pass system at Incheon International Airport and is expected to accelerate popularization based on airport users. In addition, the plan is to gradually penetrate the 300,000 domestic affiliated stores owned by NICE Information & Telecommunication beyond duty-free shops.
A CUBOX official stated, “As the first operator of the Smart Pass project, CUBOX successfully opened at the end of July, and after supplying financial sector identity verification solutions, it is now expanding its business into the payment sector, a traditional B2C area. Although there have been attempts at facial payment in Korea, the expansion strategy was unclear, so it did not become widespread. However, usage at airports with about 70 million visitors annually will provide a good foundation for popularizing facial payment.”
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