SINGAPORE, 10 November 2017 – UnionPay is casting its vision for the future of e-payments with a technology showcase at the upcoming Singapore Fintech Festival (SFF) 2017 held from 13 to 17 November. Featuring UnionPay FacePay – a new face recognition technology that enables users to pay for purchases by taking a photo of their face; Sound Code – a new technology that encodes data into ultrasonic sound waves to enable interactive payments for users; Virtual Reality – a new application that allows retailers to visualise in-store layouts and the integration of new payment technologies prior to implementation; and an enhanced Risk Management System – which helps issuers and acquirers verify consumer data and evaluate creditworthiness in real-time to manage the risk of card fraud; these technologies are being tested in real-life scenarios in partnership with brands in Asia, offering visitors a glimpse into the future of e-payments.
“As a global payments brand focused on realising the vision for a cashless society, UnionPay continuously innovates by working with developers and partners to conceptualise new payment solutions that can enable convenience and ease of e-payments for consumers around the world. Through extensive research, rigorous testing and trial, our aim is to connect consumers, businesses and financial institutions with cost-effective and secure payment technologies that will define the world of payments. These technologies, showcased at the Singapore Fintech Festival 2017, marks the beginning of more payment innovation to come, as we intensify our efforts in harnessing artificial intelligence, big data, blockchain, cloud and other technologies to enable quicker, safer and more seamless payments for consumers and businesses,” said Mr. Shuan Ghaidan, Director of Products, UnionPay International.
UnionPay’s technology showcase at SFF 2017 is located at 1F-15.