SmilePay partners with two major food retailers in Azerbaijan to let shoppers pay for groceries using their faces
SmilePay has formed deals with the Bravo and Araz supermarket chains after securing an investment from the biggest acquirer bank in Azerbaijan, Pasha. Being installed at Bravo for a month, the technology has already facilitated 3000 transactions from 418 users.
SmilePay uses advanced facial recognition technology. The company claims its proprietary payment system has nearly absolute precision in ideal conditions, reaching a 99.99% accuracy and less than 0.5 seconds detection speed. Customers should scan their faces in a dedicated app to register. Next, they link a bank card. Once the card has been successfully added, clients can easily make contactless payments in partner stores.
Retail face scanners make a video recording for 1 second. It is then sent to the facial recognition system. After passing initial security checks, authorization is completed. Thus, a payment request will be sent based on the card information in the linked account.
SmilePay was founded by serial entrepreneur Seymur Rasulov. Besides, the fintech startup was among the eight Mastercard Start Path Accelerator programme participants this year. Now, it plans to expand to Europe, Southeast Asia and the Middle East. Furthermore, the company plans to bring more convenience to users with recurring purchases, family members, money management, spending-based loans and taxation done inside the app.