Payment will be done as soon as you smile! Know what is and, understand how it works?

A new facility has been started by Federal Bank, named SmilePay. Under this, customers can make payments using Facial Recognition.

A new facility has been started by Federal Bank, named SmilePay. Under this, customers can make payments using Facial Recognition. With this, you will not need any kind of physical payment tools. That is, now you will be able to make payments without cash, card or mobile. Under SmilePay, a limit of Rs 5000 per transaction and Rs 50 thousand per month transaction has been fixed.

SmilePay is the first payment solution of its kind in India. It uses facial authentication technology built on UIDAI's BHIM Aadhaar Pay. The bank had also issued a press release on August 29 regarding this. Through SmilePay, people will be able to make payments by scanning their faces, in which there will be no need to use cash, card, or mobile.

The entire payment process under SmilePay will be completed in two stages. Federal Bank CDO Indranil Pandit said - 'From cash to card for payment and then QR code from it and then wearables from it and now just a smile for payment. This is a very exciting experience.' Let us tell you that its first pilot has been done at some special branches and outlets. For this, collaboration has been done with Reliance Retail and Independent Micro Finance.

How is payment done with SmilePay?

Under this, when a customer goes to a Federal Bank merchant, who has the FED MERCHANT application on his mobile, he will be able to easily make payment using the payment option through SmilePay.

If we talk about the merchant, the payment process will start as soon as the customer's Aadhaar number is entered through the FED MERCHANT APP. The customer's face will be scanned from the merchant's mobile and it will be verified with UIDAI data. As soon as the verification is done, the payment will be done and the money will be deducted from the customer's bank account linked to Aadhaar. As soon as the payment is successful, a voice alert will be generated on the FED MERCHANT APP, which will tell the merchant that the payment has been made.