Vision AI specialist company SisonAI announced on August 1 that it has signed a business partnership agreement with NICE Payments, a leading electronic payment gateway (PG) company, to collaborate on an AI facial recognition payment service.
Through this partnership, the two companies have agreed to jointly commercialize the 'SEEU PAY 2.0 Service,' which combines NICE Payments' comprehensive payment infrastructure and settlement system with SisonAI's AI facial recognition technology.
As a result, SisonAI plans to actively pursue aggressive sales strategies to expand its new merchant base by promoting its facial payment solution, 'SEEU PAY.' The main target industries include convenience stores, franchise businesses, public institutions, large supermarkets, resorts, leisure facilities, and the restaurant sector. Additionally, demand is expected to be especially high in sectors where identity verification is required prior to payment, such as hospitals, pharmacies, and airport duty-free shops.
According to data released by the Bank of Korea, the average daily transaction volume for simple payment services in Korea is approximately KRW 959.4 billion. Of this, the company estimates that facial payment accounts for about 10%. SisonAI aims to secure a stable revenue model and expand its performance by entering the facial payment market.
SisonAI's 'SEEU PAY' is a solution that links the facial information and credit card details of users (customers) registered via an application, enabling payments to be made through facial authentication alone. Its key feature is that users can complete accurate identity verification and convenient payments simply by looking at the camera, without any complicated procedures.
Facial payment systems are expected to offer advantages over existing payment methods such as cash, cards, QR codes, and mobile pay in terms of user experience?including hygiene and convenience?security ensured by advanced technologies, and operational efficiency for business owners.
From the user experience perspective, there is no need to carry a wallet, card, or mobile phone for payment. The contactless method is hygienic, the payment process is simple, and transaction speed is fast, which enhances convenience. It is also expected to lower payment barriers for digitally vulnerable groups such as the elderly, children, or visually impaired users who have difficulty accessing information. In addition, the AI-based Liveness Detection feature enables the system to respond to identity theft or forgery attempts.
Furthermore, the solution is optimized for unmanned stores and kiosks, and supports rapid payments, which helps improve turnover rates. This provides business owners with various benefits, including cost reduction and enhanced operational efficiency.
Nam Woonseong, CEO of SisonAI, stated, "Our SEEU PAY is a payment solution optimized for contactless and unmanned environments. It can lead the field-oriented contactless and unmanned payment environment in offline stores, unmanned kiosks, and smart retail. Through our collaboration with NICE Payments, Korea's leading PG company, we will offer a new payment experience to both customers and business owners, and target the next-generation payment market."
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