How is PayByFace Planning To Change The World Of Payments for Merchants and Consumers?

A Seamless, Biometric & Secured Face Recognition Payments Ecosystem For A Faster and More Convenient Shopping Experience

Every second of queuing is a lost revenue opportunity, of millions $ for the global retail industry only, while the banking industry is shifting into a growing presence of both alternative “digital banks” and personalized financial products from tech companies. The world moves faster and people traveling either short or long distances shape the way the transport & hospitality companies adapt to a simplified, faster, and secure reality.

COVID-19 pandemic has shaken the established economic world to its core, some businesses were on the verge of bankruptcy, while many are struggling to regain customers' loyalty in a safe social distance, particularly during the check-out process. With consumers having even higher expectations, brand strategies are critical post-crisis, in the way businesses start to interact with clients to both re-build trust and address behavior shifts.

Developed for over two years, remains the corporate responsibiliPayByFace® strives to entry towards consumers' data privacy, able global movement while also differentiating biometric wards cashless & cardless society payments to most immediately mental using the face as a highly secured virturelatable model of mass-surveillance. al card. PayByFace® becomes even As the 4th layer to existing payment more relevant in the Covid-19 context, methods, “touchless” biometrics have enabling brick & mortar businesses to to establish as fully end-user centric offer a more convenient, intuitive and by providing security, privacy and personal in-store digital experience convenience. as significant customer satisfaction and loyalty differentiator for revenue Customers owning an eWallet account growth. either in the PayByFace® App or in a As July 2020, PayByFace® is an AmApp can benefit of making purchases sterdam based B2B2C fintech start-up with a selfie across the partners netcompany to create a seamless, faster work, without cash, card or phone. and secured biometric face recogniPayByFace® was designed to make tion low-touch payment, loyalty and user in full control of the payment proadvertising ecosystem. PayByFace® cess and their personal data; the sysplatform agnostic software, its tem converts the selfie into an encryptplug&play SDK or full white label ed biometric face template distributed solution, are designed to “uberise” only to PayByFace® network devices & “gamify” payments; a more convein the near user area (data follows the nient “on-line like” check-out process, user and its instructions). extending the interaction beyond the transaction. Click to see how PayByFace® works!

Biometric payment is a growing trend, exploding in Asia with over 100 million users today. Nevertheless, branded native integrated white label

Paying with your face is not only faster and more convenient, but has enhanced security vs traditional payments. PayByFace® ultra-scalable on-demand decentralized architecture has 3 cross-check points for authentication & transaction security validation: high accuracy for biometric face recognition, user geolocation preset distribution area and extra security optional PIN (additional unique features have been included in the product roadmap). Cloned card, stolen wallet, lost or no battery phone, would no longer frustrate any PayByFace customers.

Any business partners can implement a cost-effective / cost-cutting, still frictionless, check-in/check-out process. Biometric KYC PayByFace® unique on-demand decentralizes templates facilitates customer authentification in less than 1 sec (less than 5sec average transaction vs 10 to 15sec of NFC or tap phone). Either in-store or a bank branch, client acknowledgement, payment transactions acceptance, loyalty points attribution at point of sale (including ATMs) can be simply done allowing end-user client to both face authenticate in front of any 2D camera enabled device (iPad, phone, smart mobile POS, etc) and to “touchless” approve the transaction. PayByFace® also facilitates a face recognition-based loyalty program enrolment, while customers won’t ever miss out loyalty points attribution (because they forgot the loyalty card at home). Additionally, loyalty programs, represent an extremely valuable tool for quality data so as the retailer – customer interaction becomes more personalized (also, faster check-out, more time to be personal). The intrinsic gamification potential, conjunctively with the described key features, does provide a significant improvement for the in-store experience securing a higher customer engagement and loyalty level.

PayByFace® Mobile POS

Incorporating proprietary CRM software and out-of-home digital signage content management network at point-of-sale (personalised cross-sell, up-sell and gamification), PayByFace® is able to fast deliver an affordable merchant solution for a robust customer check-out experience and influence re-building long term loyalty through a unique and superior platform. █

Sophie Geertzen - StartupBootcamp | PayByFace®

Startupbootcamp

End June 2020, PayByFace® graduated Startupbootcamp Amsterdam Commerce Program 2020, the leading global accelerator scale-up in the field of commerce and technology, being one of the leading startups in the eight international startups participating, and almost 400 applications. The four months intensive program “has helped PayByFace® better frame product offering, facilitating the communication of the core values of its unique facial recognition payment system to both potential customers and investors”, says Mike Draghici, CEO & Founder.

The learnings and network of investors & businesses from both SBC program and Visa Innovation Program (joint in March’20), opened pilot project opportunities with large European banks, a major retailer chain in Middle East, a transport company and merchants in the Netherlands and CEE. The team is excited to scale PayByFace® across multi-industry global accounts use-case projects and to work in the post-COVID-19 context with the ten country-based distributor partners, to serve more coffee-shops, pharmacies, gyms, restaurants, hotels & spas, gas-stations, etc.