Say goodbye to cards - JPMorgan Test is now letting you pay with your palm or face!

Figure 1. JP Morgan Chase & Co Starting 2023 Strong. Retrieved from www.exness.com

It's the future of payments and it's here now! JPMorgan Chase & Co. is testing new technology that will let consumers pay with their palms or faces at certain US merchants. This revolutionary payment method is sure to change the way we shop and pay for our purchases.

The new technology uses biometric authentication, which is a secure way to identify individuals based on unique physical characteristics such as fingerprints, irises, or facial features. With this system, shoppers can simply place their palm or face in front of a scanner to make payments without having to use cards or cash.

The palm and face recognition systems are already being tested in select stores across the US. The company has also discussed the project with Mastercard and JPMorgan Chase, two of the biggest payment processing companies in the world.

Figure 2. Facial Recognition vs. Palm Vein Biometrics. Retrieved from www.keyo.com

This new technology could be a game-changer for consumers who want more convenience when it comes to making payments. It eliminates the need for carrying around cards and cash, which can be cumbersome and inconvenient at times. Plus, it adds an extra layer of security since only authorized users can access their accounts using biometric authentication.

JPMorgan Chase & Co.'s move towards palm and face recognition payments shows that they are serious about staying ahead of the curve when it comes to payment technologies. We look forward to seeing how this technology develops in the future!

Sources:

• https://www.bloomberg.com/news/articles/2023-03-23/jpmorgan-test-will-ditch-cards-to-let-consumers-pay-with-palm-or-face-instead

• https://seekingalpha.com/news/3532858-amazon-palm-pay-your-hand