The U.S. megabank JP Morgan-Chase recently announced they plan to deploy their proprietary biometric payment systems with their merchants, rivaling the likes of Amazon’s contactless payment terminals.
Nearly one year ago The WinePress reported on JP Morgan’s pilot program for this biometric payment system, which includes “palm and face identification for payments authentication in-store and works on an enrol-capture-authenticate-pay basis,” the megabank explained. JP Morgan would manage customer’s biometric data for future transactions.
The bank added: “After a short customer enrolment process in store, the workflow is; cashier scans items or customer uses self-service terminal, user scans palm or face, user completes checkout, user gets receipt. The solutions [have] benefits for merchants and their consumers. For merchants, the key benefits include customer sales and loyalty growth and the removal of friction from merchants’ day-to-day processes. For the customer, the payments are phone-free, private, secure, fast and simple.”
The evolution of consumer technology has created new expectations for shopping and payments. There are more ways to pay than ever before across an increasing number of channels. And consumers continue to adopt tools like digital wallets and biometric payments to simplify their payment experience.
J.P. Morgan is uniquely positioned to revolutionize payments online and instore and our investments in technology have unlocked new ways for merchants to offer frictionless payments across any touchpoint. Our Commerce Solutions launch positions us perfectly to help our clients prepare and thrive as the payments landscape continues to transform.
Takis Georgakopoulos, Global Head of Payments, J.P. Morgan, said last year
Specifically, the bank has partnered with biometrics tech company PopID to help develop their system. PopID has partnered with other large companies around the world to help integrate contactless and biometric payments as well, such as FIFA at the World Cup. The WP highlighted this emerging tech startup in early-2021 where it began to network with small businesses and shops in California.
The bank’s new payment system was trialed last year at the Formula 1 Crypto.com Miami Grand Prix. Identical to Amazon One‘s contactless payment system that allows customers to simply hover their hand over a terminal and pay, JP Morgan is providing something similar or can scan people customer’s faces for instant payment.
In a recent discussion with Payments Dive, Prashant Sharma, executive director of biometrics and identity solutions at JPMorgan, revealed that they are planning on releasing this technology on a much broader scale to their vendors sometime in 2025. Sharma indicated their main focus will be to rollout this technology at grocery stores, restaurants, and other major events and venues.
Sharma noted that in some contexts all that will be needed is a tablet with a camera that can take an image of a shopper’s face.
We would like every merchant to adopt this, but at the end of the day, it is going to be a merchant’s choice.
[Merchants are highly interested in tapping biometrics], because everybody wants to provide a streamlined, personalized experience to the consumer. [Still], there is a perceived sensitivity towards biometrics.
There are certain areas where we will compete, but there are a lot of places where we can collaborate as well. For anything to scale, there has to be industry standards.
This is an area that we will continue to invest in, continue to work in. It will take a little bit of time, but hopefully we get to a point where there is an all-in-one device that can do card, tap, dip plus biometric data acceptance as well.
Sharma said
The WP also reported earlier this month that the credit card giant VISA has also released their own contactless payment system, mimicking the designs and concepts of Amazon’s and JP Morgan’s terminals.
Last month JP Morgan explained that they plan to further flesh-out the digital payments landscape, in statement to Digital Transactions.
We realized merchants more and more want to provide their customers an experience.
The second thing is we realized is that consumers want a self-centered experience, they want to be recognized.
Jean-Marc Thienpont, managing director of omnichannel & biometric solutions at J.P. Morgan Payments, tells Digital Transactions News.
“The technology has become more mature from where it was 10 years ago,” Sharma added.
Furthermore, yesterday JP Morgan also announced a new System Integrator Program for companies that specialize in payments consulting, implementation, and operations.
Georgakopoulos said in a blog post: “This program is another critical element in how we are continuing to build a modern Payments business. Organizations are demanding more deeply integrated and embedded solutions that go beyond traditional payments-related pain points. Working with key partners will help us accelerate the new product development and adoption process.”
AUTHOR COMMENTARY
Everything is going digital rapidly and we know why: it’s a precursor to the mark of the beast. Ultimately, the masses need to get accustomed to paying with just their face and hands before they are eventually integrated with technologies to facilitate transactions.
[16] And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: [17] And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. [18] Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
Revelation 13:16-18
In the meantime, JP Morgan-Chase, the largest bank in the U.S. by assets – the release of their payment system is congruent with the incoming wave of bank failures, collapsing dollar, and launch of CBDCs, digital IDs, and tokenization.
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
The WinePress needs your support! If God has laid it on your heart to want to contribute, please prayerfully consider donating to this ministry. If you cannot gift a monetary donation, then please donate your fervent prayers to keep this ministry going! Thank you and may God bless you.
Yesterday, while I was at work, my sister stole my apple ipad and tested to see if it can survive a twenty five foot drop, just so she can be a youtube sensation. My iPad is now destroyed and she has 83 views. I know this is completely off topic but I had to share it with someone!
Hello there! Do you use Twitter? I’d like to follow you if that would be okay. I’m definitely enjoying your blog and look forward to new posts.
Good info. Lucky me I reach on your website by accident, I bookmarked it.
I think other website proprietors should take this website as an model, very clean and wonderful user genial style and design.
Whats Going down i am new to this, I stumbled upon this I’ve discovered It absolutely useful and it has aided me out loads. I am hoping to contribute & aid other customers like its helped me. Great job.
It¦s truly a nice and useful piece of info. I am glad that you shared this helpful info with us. Please keep us informed like this. Thank you for sharing.
I really enjoy looking at on this web site, it has superb content. “When a man’s willing and eager, the gods join in.” by Aeschylus.
With the whole thing that appears to be building inside this area, a significant percentage of perspectives are actually somewhat refreshing. However, I am sorry, but I can not give credence to your whole idea, all be it exhilarating none the less. It looks to us that your opinions are generally not entirely rationalized and in reality you are generally yourself not even totally convinced of the argument. In any case I did take pleasure in reading through it.
I really like your writing style, great information, thankyou for posting : D.
I appreciate, cause I found exactly what I was looking for. You’ve ended my 4 day long hunt! God Bless you man. Have a nice day. Bye
I?¦ve been exploring for a little for any high quality articles or weblog posts on this kind of area . Exploring in Yahoo I at last stumbled upon this web site. Studying this info So i?¦m happy to show that I’ve a very just right uncanny feeling I found out just what I needed. I such a lot without a doubt will make certain to don?¦t overlook this web site and give it a glance on a constant basis.
It’s appropriate time to make a few plans for the longer term and it is time to be happy. I have read this submit and if I could I want to recommend you few attention-grabbing issues or advice. Perhaps you could write next articles relating to this article. I want to read more issues approximately it!
F*ckin’ remarkable issues here. I’m very glad to look your post. Thanks a lot and i’m taking a look ahead to touch you. Will you kindly drop me a e-mail?
I want to show my passion for your kind-heartedness for visitors who really need help with this particular concept. Your personal commitment to getting the solution across ended up being amazingly functional and have in most cases allowed those like me to attain their targets. Your own interesting instruction means so much a person like me and somewhat more to my office colleagues. Thank you; from each one of us.
I don’t even know how I ended up here, but I thought this post was great. I do not know who you are but definitely you’re going to a famous blogger if you are not already 😉 Cheers!
We are a group of volunteers and starting a new scheme in our community. Your web site provided us with valuable info to work on. You have done an impressive job and our whole community will be thankful to you.
I really treasure your piece of work, Great post.
Real clear website , regards for this post.
This is really interesting, You’re a very skilled blogger. I have joined your rss feed and look forward to seeking more of your magnificent post. Also, I’ve shared your website in my social networks!
I know this if off topic but I’m looking into starting my own blog and was wondering what all is required to get setup? I’m assuming having a blog like yours would cost a pretty penny? I’m not very web smart so I’m not 100 positive. Any recommendations or advice would be greatly appreciated. Cheers
But wanna comment that you have a very decent website , I enjoy the design and style it actually stands out.
Good ?V I should definitely pronounce, impressed with your website. I had no trouble navigating through all tabs and related info ended up being truly easy to do to access. I recently found what I hoped for before you know it in the least. Reasonably unusual. Is likely to appreciate it for those who add forums or anything, website theme . a tones way for your customer to communicate. Excellent task..
I conceive this web site contains some real wonderful information for everyone : D.
Your style is so unique compared to many other people. Thank you for publishing when you have the opportunity,Guess I will just make this bookmarked.2
I enjoy the efforts you have put in this, thanks for all the great content.
I?¦ve recently started a website, the information you offer on this website has helped me tremendously. Thanks for all of your time & work.
You are my intake, I own few blogs and occasionally run out from brand :). “Yet do I fear thy nature It is too full o’ the milk of human kindness.” by William Shakespeare.
Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something. I think that you can do with a few pics to drive the message home a bit, but other than that, this is wonderful blog. A fantastic read. I’ll definitely be back.
Magnificent website. A lot of useful info here. I am sending it to a few pals ans also sharing in delicious. And obviously, thank you on your effort!
Lovely just what I was looking for.Thanks to the author for taking his clock time on this one.
so much excellent information on here, : D.
Rattling great information can be found on site.
Do you have a spam problem on this blog; I also am a blogger, and I was curious about your situation; many of us have developed some nice methods and we are looking to exchange methods with others, please shoot me an e-mail if interested.
magnificent post, very informative. I wonder why the other specialists of this sector do not notice this. You should continue your writing. I’m sure, you have a huge readers’ base already!
I used to be suggested this blog by means of my cousin. I am not positive whether this publish is written by him as nobody else recognise such unique approximately my trouble. You’re wonderful! Thank you!
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
Dead composed content material, Really enjoyed studying.
I do agree with all the concepts you’ve presented in your post. They’re really convincing and can definitely work. Still, the posts are too short for novices. Could you please extend them a little from subsequent time? Thanks for the post.
The Pink Salt Trick is a minimalist but effective morning routine: Just drink a glass of lukewarm water mixed with a pinch of Himalayan pink salt as soon as you wake up.
This really answered my problem, thank you!
You made some nice points there. I did a search on the subject matter and found most persons will agree with your site.
Good – I should certainly pronounce, impressed with your site. I had no trouble navigating through all the tabs as well as related information ended up being truly simple to do to access. I recently found what I hoped for before you know it at all. Quite unusual. Is likely to appreciate it for those who add forums or something, website theme . a tones way for your client to communicate. Excellent task.
I very thankful to find this internet site on bing, just what I was searching for : D as well saved to fav.
Oh my goodness! an amazing article dude. Thank you Nevertheless I am experiencing problem with ur rss . Don’t know why Unable to subscribe to it. Is there anyone getting equivalent rss drawback? Anyone who is aware of kindly respond. Thnkx
This is the proper blog for anyone who needs to find out about this topic. You notice a lot its nearly onerous to argue with you (not that I truly would need…HaHa). You definitely put a brand new spin on a topic thats been written about for years. Nice stuff, simply great!
so much superb information on here, : D.
I truly enjoy examining on this website , it has wonderful blog posts. “Those who complain most are most to be complained of.” by Matthew Henry.
Some truly wonderful work on behalf of the owner of this site, utterly outstanding written content.
You made some decent points there. I did a search on the topic and found most individuals will agree with your site.
I am glad to be one of the visitors on this outstanding web site (:, appreciate it for posting.