What thoughts does the industry change from credit card to face payment bring us?

In May 2019, the State Information Center, China Economic Information Service, and Ant Financial jointly released the "2019 China Mobile Payment Development Report". The report pointed out that in 2018, the scale of my country's digital economy reached 31.3 trillion yuan, accounting for 34.8% of GDP. Relevant scholars believe that the explosive growth of the digital economy is inseparable from the support of mobile payment. Mobile payment is not only changing everyone in the current commercial society, but also becoming a new driving force for China's economic development.

(Mobile payment has become a new driving force for China's economic development)

When it comes to mobile payment, I believe that everyone as a consumer feels deeply. In just over ten years, from the currency payment that has been followed for thousands of years, to the short-term popular POS card payment, to the fast and convenient mobile phone scan code payment, until now, the more secure and convenient face payment is gradually being rolled out. China has not only achieved "come from behind" in the field of payment, but also achieved "overtaking on the curve" through continuous technological iterative innovation, and its impressive achievements have attracted worldwide attention.

The transition from POS machines to face-scanning machines

Consumption, investment and export are known as the troika of China's economic development. China has a population of about 1.4 billion as its support. Therefore, the role of consumption in driving China's economic development is self-evident. The essence of consumption is to exchange money for goods or services, and payment must become a key link. Today, mobile payment has become the main payment method for Chinese netizens. Data shows that in 2018, the number of mobile payment users in China reached 659 million, and the market size was as high as 277.4 trillion yuan; in 2019, the number of mobile payment users will exceed 733 million, and it is expected to increase to 790 million in 2020, and it is still growing rapidly.

Behind a series of huge macro data, our payment methods are also undergoing great changes. Whether you are a merchant or a consumer, you will benefit from the iterative innovation of mobile payment. Once upon a time, the dense wiring harnesses and several POS machines stacked on the counters of the merchants disappeared, and a face-swiping payment terminal device appeared next to the various payment QR codes. The emergence of face-scanning payment is not only safer and more convenient, but the key lies in conforming to the development trend of the times.

(Swipe card payment is drifting away from us)

The rapid rise of face-swiping payments in China

The rapid rise of face-scanning payment not only changes people's lives, but also drives the development of related mobile payment industry chains. Whether it is a platform side like Alipay, WeChat, UnionPay, or a software algorithm side like Baidu AI Brain, or Obi Zhongguang, a leading company in 3D sensing overall solutions for face-scanning payment terminals in China, all of them are due to the arrival of the trend. Take off with the wind. Especially with the accelerated application of cutting-edge black technologies such as 5G, AI, and IoT, China's face-scanning payment industry is accelerating its rise.

The rise of any innovative application is by no means a castle in the air. It must conform to the future trend and effectively solve people's needs and pain points, and face-scanning payment is no exception. Compared with the current popular two-dimensional code and fingerprint or password verification, on the one hand, face-swiping payment does not need to rely on any medium, which is more convenient; Dot matrix projection obtains high-precision 3D depth information of objects, and improves the security of fingerprint verification by dozens of times.

(Apple's Face ID introduced 3D structured light technology in 2017)

Thanks to the double leap in convenience and security, face-scanning payment is actually changing the ecology of mobile payment. At present, Weiduomei has fully rolled out face-swiping payment terminals. Officials claim that the cashier efficiency has increased by more than 60%, which has effectively alleviated the queuing phenomenon and improved the shopping experience. At the same time, the more secure 3D structured light technology is widely used on face-scanning terminals, which effectively avoids the cracking of videos and photos, and also makes consumers feel more at ease.

Technology is the primary productive force and the core driving force for innovation and iteration of application models. As early as 2017, Ant Financial's "face-swiping payment" was rated as "the world's top ten breakthrough technologies" by the world authoritative "MIT Technology Review". Today, the accuracy rate of Baidu AI face recognition algorithm exceeds 99.99%, and the response time is only "millisecond level". Behind these innovative face brushing technologies, in fact, it still benefits from the continuous evolution of 3D structured light technology and AI algorithms.

Today, Chinese technology companies are actively participating in the research and development and innovation in the field of face recognition, and a large number of outstanding leading companies such as Ant Financial, Baidu AI, Obi Zhongguang, etc. It is foreseeable that on the next track of face-scanning payment, the wave of key technology iterations will be led by China.

(Supermarkets open face payment service)

Beginning with the "wisdom eye" that adapts to all things by brushing your face

If AI algorithms are compared to "brains", then 3D sensing technology can be called "wisdom eyes". If we effectively "combine" them together to form modular modules and adapt them to smart terminals of various forms and applications, then the grand vision of enabling everything to "understand" the world may be realized. This is not a "sci-fi" idea, but what many Chinese technology innovation companies are doing, and it is also one of the important trends in the future development of IoT.

Take Obi Zhongguang, a top domestic supplier of 3D sensing technology and 3D vision module solutions, as an example. Although this company is only an innovative technology enterprise established in 2013, the number of patents in the field of 3D sensing technology has now reached It ranks among the top three in the world with Apple and Microsoft. Most of the “Face-to-Face Payment” products recently released by UnionPay’s UnionPay’s UnionPay are equipped with the company’s 3D structured light module, which helps China UnionPay to accelerate the layout of the blue ocean market of face-to-face payment with multi-modal terminals. Alipay, which launched the face-scanning payment market relatively earlier, also has in-depth cooperation with Aobi Zhongguang, and has now been widely spread on various payment terminals.

(China UnionPay's "Face Brush Payment" mostly adopts Obi Zhongguang's 3D vision solution)

In addition to the field of face-scanning payment, 3D sensor modules are currently also making breakthroughs in various forms of terminals such as mobile phones, robots, and automatic containers, as well as in many industrial fields such as transportation, medical care, security, home furnishing, logistics, and construction. practical application. In the future, when all intelligent things have the ability to "understand" the world, people will return to the axis of the world. A human face can not only be used for payment, but also the key to the interconnection of all things and the key to human-computer interaction.

Starting from brushing your face and adapting to everything, this is a true portrayal of the broad application prospects of 3D sensing technology. China, which has already been at the forefront of the world in the field of mobile payment, will surely once again occupy the commanding heights of the wave of face-scanning payment, driven by a large number of outstanding technological innovation enterprises, and have more and more voices in the global wave of AIoT technology.