More modern than Twint & Co.: the Chinese now pay with the palm of their hand

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Milena BoldEditorial Economy

With all digital means of payment, you can sometimes leave your wallet at home. Take out your mobile and pay with Twint or Apple Pay.

But China is now going one step further. Payment service provider WeChat Pay launched a new method on May 21: Palm Payment. The Chinese can now pay with the palm of their hand, writes online platform marketingtochina.com. Simply hold your hand over the scanner and the purchases are already paid for. If you have registered your palm as a means of payment, you can forget your mobile phone at home without any problems.

without chip

Everything works using palm print and vein recognition technology – that is, without a chip or the like. Therefore, forgery is almost impossible. The advantage of fingerprinting is hygiene. The hand does not need to touch the scanner. This works with high-resolution cameras and infrared sensors – and is therefore particularly safe.

The Chinese can currently use palm payment primarily on public transport such as subway tickets. The payment method will soon be available in many shops and restaurants.

The new payment method creates excitement on social media. Users from other countries primarily react with suspicion. China has long been criticized for monitoring its population. Registered palm would be another step towards snooping.

more ads

The article also refers to a “unique advantage”: If you pay with the palm of your hand, you will automatically follow the seller’s official account on WeChat. This then feeds users with promotions and product news. You’ll get more ads if you use the new payment method. Therefore, not everyone talks about an advantage.

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WeChat Pay has more than 800 million monthly active users. However, currently only Chinese users can use the new function. The article continues by saying that Palm Payment will soon be available in other countries.

Source :Blick

Tim

I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.