Payface, a pioneering company in facial recognition payment solutions, is taking a significant step by expanding its services with a solution that integrates biometrics into private label card systems. This innovation allows consumers from various segments to make payments using only their face, without the need for passwords or physical cards, for the first time ever.
The Oscar chain is the first to adopt this technology, implementing it in 10 stores in the city of São José dos Campos (SP), where customers have been enjoying the convenience of paying with FestCard, the chain's own card, through facial recognition since July 12th. The partnership aims to expand the solution to approximately 100 stores in the group by October 2024, with the expectation of reaching tens of thousands of consumers who pay with the store's card every month.
For Eládio Isoppo, CEO of Payface, this launch represents two important milestones in Payface's strategy. First, Payface's entry into the private label card issuer ecosystem – a strategy designed in late 2023 following the acquisition of Smile&Go – with a product built specifically to connect the facial recognition data captured by issuers at the time of credit approval for their clients with the respective payment methods. Second, the expansion of the company's solutions into new segments, with enormous acceptance.
“We successfully launched facial biometric payment in a closed system, marking our strategic entry into the promising footwear and fashion segment. This innovation has already resulted in the addition of thousands of new users to our base, exponentially boosting the adoption of Payface. This significant advancement was catalyzed by the acquisition of Smile&Go, consolidating our position as a leader in facial recognition solutions. We are excited about the potential for continued growth of our technology, which extends from physical checkouts to online authentications,” says Eládio Isoppo.
All Festcard customers are already pre-enabled to pay with their face in stores with the technology, and new cardholders, for example, will be able to use it immediately after approval, without waiting for card personalization, password setting, or app installation. Facial recognition replaces all of that at once, ensuring accuracy and security, as well as reducing disputes and fraud.
According to Nelson Cazarine, Director of the Oscar Group, the partnership with Payface makes "life even easier for the network's customers, reaffirming the Oscar Group's commitment to innovation and excellence in service."
Payface's solution, fully integrated into the private label card issuance and processing ecosystem, makes the purchasing experience simple, agile, and secure. As highlighted by Carlos Carvalho, Head of Credit Operations at Grupo Oscar:
“Facial biometrics has arrived at FestCard to revolutionize the sales process. With a simple photograph, our customers can make their purchases with greater speed, security, and convenience. An innovation that transforms the shopping experience.”
Even with its recent launch, other networks have already adopted facial recognition to solve common pain points in the private label world, such as card sharing and high operational costs. Fort Atacadista, which operates the Vuon Card in its stores, and Nalin, a card of the same name, are already in the implementation phase to bring the Payface solution to their operations in the food wholesale and fashion segments, respectively.
