A new report from Juniper Research predicts that software-based facial recognition to secure payments will be almost ubiquitous by 2025, thanks in part to Apple’s FaceID implementation.

According to the firm, there will be more than 1.4 billion users of facial recognition software used for payments alone in 2025, up from 671 million in 2020.

Apple’s FaceID is driving growth in the wider facial recognition market, even though masks and other facial coverings have become more common since COVID-19.

Beyond facial recognition technologies, fingerprint sensors and voice recognition are also picking up significant momentum.

“Hardware-based facial recognition is growing, but the ability to carry out facial recognition via software is limiting its adoption rate,” explains Juniper Research and author of the research report, Susan Morrow, says.

“As the need for a secure mobile authentication environment grows, smartphone vendors will need to increasingly turn to more robust hardware-based systems to keep pace with fraudsters’ evolving tactics.”

According to the Mobile Payment Authentication: Biometrics, Regulation & Market Forecasts 2021-2025 report, fingerprint sensors will be on 93% of smartphones with biometric hardware by 2025, while hardware-based facial recognition will only be on 17% of phones.

Voice recognition for payments is gaining popularity: In 2020 voice recognition had 111 million users – this is expected to rise dramatically to more than 704 million users by 2025.

Juniper Research states that voice recognition is primarily used in banking, and there are few other ways in which it can expand. The reason for this lack of growth could be due to robustness concerns.

“Juniper Research recommends that vendors adopt a multi-method biometric strategy, which encompasses facial recognition, fingerprints, voice and behavioural indicators to ensure a secure payment environment.”

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Source: Software-based facial recognition in payments industry to dominate by 2025

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Source: https://australianfintech.com.au/software-based-facial-recognition-in-payments-industry-to-dominate-by-2025/

Australian middleware cloud platform and hospitality app marketplace provider Doshii has signed on three new Point of Sale (POS) partners, giving more venues the opportunity to cut through the app chaos and streamline their operating systems.

The three new partners – Abacus, Splitability, and MSL (SwiftPOS and Infogenesis) – will provide their venues with direct access to Doshii’s growing range of ordering, delivery, reservation, loyalty program, payment, rostering and other business apps.

Doshii CEO Justin O’Donnell said the partnerships will make it easier for venues to manage and maximise the performance of their online channels.

“These new partnerships will enable hospitality businesses to use Doshii to connect and sync with a multitude of information software platforms and apps needed to run a hospitality business, all through their partnered POS systems,” Justin said.

“Doshii effectively creates an integrated ‘one-stop-shop’ for all the home delivery and in-venue ordering, business management, data, and customer loyalty program apps with venues’ POS system.

“It assists with reducing labour costs involved with rekeying orders, and helps minimise mistakes that lead to product wastage and unhappy customers.

“Ultimately, it improves revenue, reduces operational costs and increases efficiency.”

Justin said the new partnerships would reduce development, maintenance and support expenses for the partners by leveraging Doshii as an integration provider along with 24/7 monitoring and proactive support.

“Giving our partners’ venues access to the Doshii ecosystem ultimately enhances the increasingly tech-savvy consumer experience – and happy customers lead to a more successful hospitality business,” he said.

“Doshii also has a full menu management system to allow venue operators to manage their menus from a central platform. All styles of hospitality operator will benefit from less time managing menus across multiple apps.

“We have experienced unprecedented uptake following last year’s COVID-19 restrictions, largely due to Doshii’s ability to help venues seamlessly ‘tech up’ and allow businesses to focus on what they’re actually good at – be it making and serving burgers or mixing cocktails – without distraction or delay.”

Doshii’s partnership with MSL’s POS venues will enable those venues to connect directly to the likes of Deliveroo, Mr Yum, OrderUp and Mobi2Go, along with their existing partner me&u, and reservations apps including OpenTable and Resy.

Justin said as venue operators emerged from COVID-enforced lockdowns, they were increasingly looking for ways to increase their revenue streams.

“These new partnerships will help venues achieve this, while also allowing them to digitally manage their menus via Doshii.”

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Source: https://australianfintech.com.au/innovative-middleware-platform-doshii-signs-up-three-new-pos-partners/

Splitit, a global payment technology company, announces a new global partnership with UnionPay International, part of China UnionPay, the provider of bank card services and a major card scheme in mainland China.

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Source: https://australianfintech.com.au/splitit-partners-with-unionpay-the-worlds-largest-card-network-of-9-billion-cardholders/

Australia’s most popular rewards program, Flybuys, and global shopping app, Klarna, today announced a new upcoming partnership set to launch in May – allowing members of both to earn more reward points and elevate their shopping game.

The Flybuys-Klarna partnership will offer members of both even greater flexibility and accelerate their ability to collect rewards.

Flybuys members can now use the Klarna app online and in-store across thousands of brands and start collecting Klarna rewards club vibes that can be converted to Flybuys points. For each $1 repaid on purchases, Klarna rewards club and Flybuys members can collect 1 vibe that can be converted to 3 Flybuys points, once enough vibes are collected.

To celebrate the partnership and receive 1,500 Flybuys bonus points, Flybuys members need to download the Klarna phone app, join the Klarna rewards club, make their first payment, then link their Flybuys account through the Klarna app.

John Merakovsky, Chief Executive Officer, Flybuys, said, “This partnership with Klarna opens up new opportunities for our members to collect points, and even more ways to be savvy with their shopping and be rewarded for it. We’re incredibly proud to welcome Klarna into the fold as our first buy now, pay later partner.”

The Klarna shopping app, which launched in Australia in January 2020, enables customers to shop and pay in 4 instalments at any participating retailer, both in store and online. Users can browse top brands, create curated wish lists, receive price drop notifications, and have access to shopping inspiration, exclusive deals and discounts from global and local Australian retailers, all from one app.

Fran Ereira, General Manager for ANZ, Klarna, said, “This is a revolutionary partnership bringing together the world’s fastest growing shopping app with Australia’s most popular loyalty program. Our partnership has been proudly designed for modern consumers. Shoppers want more flexibility in payment options so they can get what they want now, but they also want to be rewarded for taking this option. Klarna’s partnership with Flybuys rewards both our customers by tripling their points collection and rewards potential.”

Over the past year there have been significant changes in how Australians shop. Klarna has been able to respond to changing consumer behaviour over the past 12 months and offer consumers a full shopping experience from wish lists, price drop notifications and the recently launched Klarna rewards club.

Meanwhile Flybuys has continued to diversify and expand on how members can collect points on things they’re already buying, at places they’re already shopping at. Flybuys members can collect points to treat themselves with products from the Rewards Store, great travel deals, or savings towards their shopping.

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Source: https://australianfintech.com.au/flybuys-and-klarna-take-the-points-game-to-the-next-level/