Stripe and NEC Eye Face Recognition Payments, Promising Frictionless Future
Tech giants Stripe and NEC Corporation are joining forces to explore integrating Stripe’s Reader S700 payment terminal with NEC’s cutting-edge face recognition payment service. The move aims to deliver a new level of convenience and security to in-person transactions.
By pairing Stripe’s sleek payment terminals and comprehensive payment services with NEC’s world-renowned face recognition technology, the collaboration seeks to create a seamless, hands-free payment experience for consumers.
The companies plan to showcase this innovative face recognition payment system, powered by the Stripe Reader S700, at the Singapore FinTech Festival from November 12-14.
Stripe Terminal, a unified commerce solution, is designed to bridge the gap between online and in-store payments. Available in 25 countries, it offers businesses a centralized dashboard for real-time customer insights. The Stripe Reader S700, with its user-friendly, smartphone-like interface and Wi-Fi connectivity, is ideal for both countertop and handheld use.
“Stripe is excited to support NEC’s globally recognized face recognition technology, enabling its use for payments through Stripe Terminal,” said Daniel Heffernan, Product Lead of Stripe Japan. “We believe this collaboration will significantly enhance the shopping experience for consumers worldwide.”
Kazuhisa Shimizu, Corporate Senior Vice President, Managing Director, Financial Solutions Division, NEC Corporation, added, “NEC is confident that Stripe Terminal’s advanced customizability will address the challenges of face-to-face payments. By combining our world-class face recognition technology with Stripe’s trusted payment platform, we aim to create a new payment experience, making digital technology accessible, safe, and convenient for everyone.”