The report on the development status of the face recognition industry of the Foresight Industry Research Institute shows that by 2022, the global face recognition market will reach 7.595 billion US dollars, with a growth rate of 20% per year. With the broad market prospects, payment giants have long been aware of the huge business opportunities of "paying by face" and have been eyeing this big cake.
In March 2019, WeChat Pay released the "Frog", a facial payment device. Announcing an investment of 10 billion yuan, the official WeChat "frog" facial payment device provides machines to partners across the country. At present, it is the window period for the promotion of face-swiping payment. With the help of “face-swiping” to promote offline payment channels, we will not hesitate to spend a lot of money and seize the offline retail entrance. WeChat face-swiping payment has been launched in hundreds of merchants across the country, especially one Second-tier supermarkets, such as Carrefour, BBK, Rainbow, ParknShop, Weifang Department Store, Liqun Supermarket, etc.
In the past few years, WeChat Pay has been in the mobile payment field from supermarkets, takeaways, taxis, hospitals, to small stalls on the streets...everywhere is the scene of mobile payment. The WeChat payment team said, “In 2019, we will combine the product capabilities of WeChat ecology in more scenarios such as retail, catering, apparel and beauty, medical care, and hotel scenic spots, and land face-to-face payment.” Face-to-face payment, smart medical care, smart campus, Catering, supermarket, hotel, non-sense parking lot, various scene solutions, software customization development, payment equipment wholesale, please Baidu "Zhangyou Electronic Wei" for details
From the perspective of the entire business system, payment is only one of the nodes, but the technological empowerment of face recognition has made it an important entry point for offline consumer service experience. How to let merchants move more offline business and consumers to move more transaction links online, so as to realize the omni-channel operation of offline and online, will become the Internet manufacturers and technology manufacturers to jointly promote the transformation of the offline retail industry key.
According to Analysys' data, in the future, facial payment will maintain an annual increment of 7 million units, and there will be at least 50 billion market space for facial payment. With such a high scale, face payment has become popular in the retail market and is competing with QR code payment. In the industry, the head, central, and sinking markets are also engaged in a battle for the software and hardware of facial payment.
Henan Zhangyou Electronic Technology is now the official authorized national service provider of Tencent Tenpay WeChat Pay, the developer of the ISV system of Ant Financial Alipay, the service provider of sesame credit pressure-free business of Ant Financial, the national service provider of UnionPay QuickPass, and the reputation of Alipay. System equipment suppliers, mobile QQ payment service providers, JD professional operation and maintenance national service providers and other channel cooperation service providers. At the same time, the company system is connected to UnionPay QR code payment, Ping An Bank, Minsheng Bank, China CITIC Bank, and Shanghai Pudong Development Bank. Banks and third-party companies such as China Merchants Bank, Lakala, Newland Star Easy Pay, Herongtong have accumulated more than 80 various offline mobile payment channels. The first main scenario solutions include: smart catering, smart supermarkets, smart hospitals, smart schools, smart parking lots and other scenarios.