SoftBank-owned Japan Computer Vision Corp (JCV) is offering its facial biometric technologies to authenticate payment, backed by SenseTime, to Visa and Mastercard, according to new analysis from Reuters. SenseTime is currently blacklisted in the United States
According to the outlet, JCV’s expansion could set a precedent for SoftBank to establish new partnerships with the broader industry through holding companies.
At the same time, JCV’s partnership with SenseTime has been frowned upon by privacy advocates, as the Chinese company is blacklisted by the United States for human rights reasons.
Speaking to Reuters, JCV clarified that SenseTime is merely a technology partner and as such does not have access to Mastercard and Visa’s systems or data.
The company also explained that its technology is audited by a third-party Israeli cybersecurity startup called CYE, which regularly performs data leak risk checks, while giving users the choice to opt-in and opt-out of security systems. face payment at any time. indicate.
In addition, Mastercard said all of its biometric payment program partners must adhere to European data protection standards, and Visa told Reuters it was currently working to define the use of biometrics in payments.
For context, Mastercard and Visa are not the first companies JCV has partnered with in its expansion into the frictionless retail market segment.
In November last year, as part of a collaboration with PopID, JCV deployed the biometrics company’s facial recognition-based PopPay ordering and payment system at two WFK locations in Tokyo.
A month later, JCV unveiled its first collaboration with SenseTime, which focused on deploying pandemic-related access control systems in restaurants, gyms and offices in Japan.
Mastercard itself has launched a global platform for biometric payments and is piloting technologies regionally, such as with Payface in Brazil.
Sensetime stock has not rallied since its June 30 drop from HK$5.86 to $3.25 after a lock-up period for pre-IPO shares ended. It has slipped to HK$2.58 (US$0.33) at press time, below the December 2021 IPO price of $3.85.
biometrics | facial biometrics | Japan Computer Vision (JCV) | Mastercard | payments | SenseTime | Visa