Shinhan Card Face Pay Commercialized at Hanyang University for the First Time in Korea
Payment system established in 16 locations like school cafeterias and CU convenience stores
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On the 9th, Shinhan Card announced the commercialization of Shinhan Face Pay, which is Korea's first facial recognition payment system. The service has been established for the first time in Hanyang University Seoul Campus.
Face Pay is a system that can be used after registering the card and facial information at the bank, and paying only with your face shown at the Face Pay established stores. Because it recognizes even the detailed curves of the face using the scanning method using the far-infrared radiation, there is no need to worry about misrecognition of similar faces such as the use of photos and such. Exact recognition of faces is also possible even when an individual is wearing glasses or hats because it analyzes each characteristic of the face using a 3D camera and far-infrared radiation scanning. Moreover, it also requires to input one's PIN to prevent any chance of expropriation.
Face Pay registration can be done at the Shinhan Bank Hanyang University branch and Hanyang Women's University branch's bank counter. It only involves a few simple steps, with a Shinhan Card and and an identification card.
Using this system, everyone can make payments with just their faces with no need for cards, after a one-time registration. Shinhan Card established the system within 16 locations around the campus, including school cafeterias and CU convenience stores. The cafeterias at Hanyang Plaza, the College of Human Ecology, the Advanced Materials & Chemical Engineering Building, and the 1st and 2nd dormitories have the system installed, not to mention the CU convenience stores inside the campus. Payment is done with facial recognition and entering the PIN.
Additionally, Shinhan Card is holding an event for Hanyang University students. A Minions character diary will be given to the first 1,000 students who register for Face Pay, and for those who make a purchase of more than 3,000 won using the system will be rewarded with 3,000 won cashback. Payments exceeding 3,000 won even after the first payment will be rewarded with 500 won cashback up to 20 times. The benefit will be applied all together at the end of 2020 June.
Authorities of Shinhan Card mentioned that "Shinhan Face Pay is the start of a change in the payment environment, where your face becomes your wallet," and added that "while this is the time where social distancing is emphasized, we hope that Hanyang University students will use Face Pay often."
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