tencent wechat china pay mauskharpalcnbc

At the time, the company responded that it was only an internal research project and there was no plan to apply the tech in real-life settings.

In late 2021, Chinese media first reported Tencent was exploring a payment system that relied on scanning users’ palm prints. “So we look at this as a way for people to potentially save a couple of minutes in line at the price of their biometric privacy for the rest of their lives.” WeChat’s secret trials But you can’t change your palm print if that gets compromised,” says Albert Fox Cahn, executive director of the Surveillance Technology Oversight Project (STOP). When most retailers get hacked, at worst you have to change your credit card number. Indeed, analysts and privacy activists remain skeptical that palm-print recognition should be used in payments-and what would happen if they are. The Istanbul Airport served 64 million passengers over the last year after it became operational in April 2019.While Amazon was the first major tech company to officially deploy palm-print scanners in its brick-and-mortar stores in the US (it’s spread to nearly 180 locations since 2020), the tech could soon become ubiquitous across China thanks to WeChat Pay’s wide adoption in all types of stores WeChat Pay is already used by over 800 million individuals and 50 million vendors in China.īut even with palm-print recognition’s benefits, installation to such a ubiquitous extent would still come with privacy risks for consumers, not to mention practical complications. The WeChat Pay was introduced to Turkey with a joint effort of the Turkish subsidiary of the Industrial and Commercial Bank of China (ICBC) and Tencent, according to a press release issued after the ceremony. Last year, 426,000 Chinese tourists visited Turkey, with an 8.2 percent year-on-year increase, he said.

He said Turkey is an important destination for Chinese tourists and the system will make the visit of Chinese travelers to Turkey more comfortable.Ĭui Wei, the Chinese consul general in Istanbul, said the project further strengthened the economic cooperation between the two countries. Speaking at an online signing ceremony, Turkey's Culture and Tourism Minister Mehmet Nuri Ersoy said the payment service is first offered in Turkey's Istanbul Airport, and later it will be used in different parts of the country. ISTANBUL, July 28 (Xinhua) - China's third-party payment platform WeChat Pay, run by Chinese tech giant Tencent, was launched in Turkey on Tuesday. The WeChat Pay, run by Chinese tech giant Tencent, is launched in Turkey, an important destination for Chinese tourists, which further strengthens economic cooperation between the two countries. Turkey's Culture and Tourism Minister Mehmet Nuri Ersoy attends the online ceremony on July 28, 2020.

Tencent wechat china pay mauskharpalcnbc