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Naver Pay Launches AI Facial Recognition Payments

Source: Naver Financial

Seoul, South Korea - Naver Pay, the digital payment subsidiary of South Korean internet company Naver, has launched a new feature that allows users to make payments using AI-powered facial recognition technology. 

The "Facesign Payment" service was launched at Kyung Hee University's Seoul campus, marking the first technology commercialization outside Naver's offices.

Users can register their facial information using their smartphones and make payments at restaurants and cafes on campus without needing a card or mobile device. 

The AI-driven process ensures fast recognition speed, high accuracy, and robust security, with registered facial information encrypted and securely stored.

Naver Pay's Fraud Detection System (FDS) verifies the user's identity during the facial registration, preventing abnormal registration attempts. 

At the payment stage, the registered facial information is compared with the face verified by the Facesign" device, achieving an accuracy rate of over 99% based on a deep learning model.

Based on user feedback from the initial launch at Kyung Hee University, the company aims to expand the service to other locations where Face Sign Payment is highly utilized, such as university campuses, corporations, and theme parks.

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