China has launched a new cardless payment system, Weixin Palm Payment, which uses palm scanning technology to make transactions. The system is designed by Tencent, one of China’s largest tech companies, and allows users to scan their palms to pay for subway fares or enter office buildings. This innovative technology uses biometric scanning to create a unique palm signature, making payments convenient without the need for wallets or cell phones.
However, concerns have been raised about security and privacy issues. According to industry expert Edward Santow, “People don’t want to participate in some kind of surveillance state.” He warns that large-scale data collection can create a honeypot for cybercriminals, who may obtain personal information illegally and sell it on the black market.
Amazon’s Amazon One system also uses biometric scanning technology, but experts caution against the risks associated with advanced technologies like palm scanning. As Santow notes, “When your personal information is hoovered up at a huge scale, that creates enormous problems.” The Weixin Palm Payment system is now available to users in mainland China, marking another step towards mainstream adoption of biometric technology.
Source: https://thedebrief.org/china-introduces-new-cardless-system-that-allows-payments-with-a-swipe-of-the-hand/