An Innovation of online Payment the “kung Fu” of Alibaba

...

Google Glass also uses augmented reality. Mobile phones, pad and other mobile devices which use AR technology to develop App are not the minority. For example, Layer is a smart phone applying augmented reality, and the operation is very simple, as long as the camera scans the tangible objects, it will show related videos, web links and other content.

About Security

Indeed, in July 2013, a Finnish start-up company, Uniqul, firstly introduced the Unique payment system, and applied for a patent. In the transaction, you only have to face to the camera, and the system will analyze facial features, connecting personal ID account, the whole process does not require the consumer wallet, mobile phone, bank cards, or a password, your face is your password.

The system has been passed safety testing, and received a "military-level" protection. The profit model of the system is also different from the general payment platform - it charged from the users. Paying 6.99 euros per month, then you can use it without geographical restrictions.

- How to deal with face lifting?

Uniqul company spokesman said, "this payment system was designed to enhance transaction security and speed, and it is even able to accurately tell the difference between the twins. When you're near the cashier, our algorithm can analyze your genetic data, and find your account in the database."

However, in China, the development of virtual payment platform is not very smooth. In March this year, the central bank forbid the payment of a two-dimensional code. One of the reason is about two-dimensional code security problems. On the other hand, two-dimensional code payment procedure completely ruin the profits of banks.

How obtain permission from regulatory authorities? It may be the most significant problem to be taken into consideration before launching “Kung Fu”.

Reference

https://medium.com/@Nvest/4-alibaba-businesses-that-disrupted-the-industry-4f8db41438fd

http://www.bundpic.com/2014/06/55153.shtml

http://tech.sina.com.cn/i/2014-06-06/14499421788.shtml

https://www.youtube.com/watch?v=Bt0o-hjy-n4[pic 3]

http://en.wikipedia.org/wiki/Alipay

Exhibits

[pic 4]