E-commerce mogul Amazon is introducing a 'Pay by Selfie' initiative which will allow consumers to use selfies or videos to authorize payments. This technology will work in lieu of worded password authorization.
'Pay by Selfie' was developed to make it safer for shoppers to buy online by relying on photo ID as opposed to a password which can be hard to remember or harmful if stolen. According to the patent, 'Pay by Selfie' will prompt the user to perform certain actions, gestures or motions, such as blink, smile, or tilt his or her head head. The actions are performed so the computer can recognize the individuals as real people and not as impostors who are holding up a photo or video.
'Pay by Selfie' is the perfect payment platform for Millennial shoppers and a revolutionary way to replace outdated worded passwords.
Selfie Payment Platforms
Amazon's 'Pay by Selfie' Technology Lets Consumers Pay with Photos
Trend Themes
1. Biometric Payment Verification - The 'Pay by Selfie' initiative by Amazon demonstrates the trend of using biometric data for payment verification, providing an opportunity for businesses to incorporate innovative biometric technologies in their payment systems.
2. Enhanced Online Security - 'Pay by Selfie' offers enhanced online security by replacing traditional password authorization, creating a disruptive innovation opportunity for industries to explore alternative methods to protect customer information and prevent fraud.
3. Personalized Shopping Experience - The introduction of 'Pay by Selfie' highlights the trend of providing personalized shopping experiences through innovative payment solutions, presenting an opportunity for businesses to enhance customer engagement and loyalty.
Industry Implications
1. E-commerce - The 'Pay by Selfie' technology in the e-commerce industry opens up possibilities for businesses to enhance security and convenience in online transactions.
2. Payment Processing - 'Pay by Selfie' disrupts the traditional payment processing industry by introducing a new method of authorization, urging businesses to innovate their payment verification systems to stay competitive.
3. Cybersecurity - The 'Pay by Selfie' initiative raises the significance of cybersecurity in industries, creating a demand for cutting-edge technologies and solutions to protect personal data from unauthorized access.