Le Mai Tung – CEO, EyeQ EyeQ, the computer vision startup, is honoured to be the winner of Visa’s Everywhere Initiative 2018 for its “Pay With Your Face” product. Applying facial recognition technology, the startup hopes that buying things with a smartphone will become as easy as taking a selfie. Customers can substitute signatures and PINs with their face to make payments without a card. EyeQ aims to offer customers more options and flexibility with different biometric methods including facial recognition. Besides providing customers with a new experience, its facial recognition system also enhances the security of payment and transaction processes. While a signature can be faked and a PIN is easily forgotten or lost, face-matching systems can be nearly 98 per cent accurate, providing a safe and convenient payment option for consumers. In Vietnam, where cash-on-delivery is still the norm, EyeQ has tremendous opportunities to grow its business. Vietnam’s burgeoning e-commerce market was valued at $2.7 billion in 2017 and may reach $4.5 billion in 2022. At present, almost 85 per cent of all e-commerce orders are cash-on-delivery, while 14 per cent are digital payments. Taking part in Visa’s Everywhere Initiative has been a fantastic opportunity for EyeQ to… Read full this story
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