Tencent, a global technology conglomerate headquartered in China, has partnered with Visa to introduce palm recognition payment technology to international markets.
This strategic partnership will initially launch in Singapore, allowing Visa cardholders from participating banks, including DBS, OCBC, and UOB, to test the service as part of a pilot programme.
The aim of the partnership is to revolutionise the payment experience by providing a seamless and secure way to make transactions using only biometric data.
Tencent’s palm recognition technology, which identifies customers by analysing both palm prints and vein patterns, aims to reduce the need for physical cards and mobile devices for in-store purchases. By working together, Tencent and Visa seek to enhance convenience and security for customers.
Tencent, through its subsidiary Tencent SenseTech Pte. Ltd. in Singapore, is expanding its technology services with a focus on biometrics.
The firm’s palm recognition solution, Tencent Palm, is built to ensure user data privacy, applying encryption for data storage that is irreversible and cannot be decrypted by third parties. The technology also performs highly accurate readings even under challenging lighting conditions, making it ideal for in-store payment environments. Tencent is open to collaborating with partners in diverse sectors to explore new use cases for palm recognition technology.
Visa, as a leading global payments provider, is committed to exploring secure, innovative payment solutions to meet evolving consumer needs.
Adeline Kim, Visa Country Manager for Singapore & Brunei, commented on the partnership’s potential, “This innovative solution represents our commitment to providing a simple, convenient, and secure way for consumers to pay. Based on our biometrics study, close to seven in 10 Singapore consumers see this as a secure way to pay. Our aim is to enhance the payment experience and ensure that our customers can enjoy seamless transactions with the highest level of security. Together with Tencent, we are excited to lead the way in transforming the future of payments.”
The pilot programme’s initial rollout took place at the Singapore Fintech Festival (SFF), where participants had the chance to experience the palm payment service first-hand at booths from both Tencent and Visa.
The technology was also trialled at Alchemist Café in Singapore. During the first enrolment, pilot users are required to tap their Visa card, scan their palm, and complete a one-time authentication at the merchant’s point of sale.
Once enrolled, customers can simply wave their palm over the payment sensor to complete transactions, without the need for a card or phone.
The introduction of Tencent’s palm recognition payment also highlights Tencent’s dedication to local compliance. The company adheres to Singapore’s data localisation requirements, ensuring that customer data remains secure within the country. This service expansion reinforces Tencent’s commitment to data security and its aspiration to redefine biometric payments on a global scale.
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