In keeping with the UAE Digital Economy Strategy and the Central Bank of the UAE’s (CBUAE) dedication to developing a safe, inclusive, and innovative national payments ecosystem, the CBUAE has launched the first biometric payment system in the region using facial and palm recognition technology through its Sandbox Program and Innovation Hub at the Emirates Institute of Finance (EIF), in partnership with Network International, a top fintech in the Middle East and Africa.
The initiative, which is currently in its Proof-of-Concept stage, is being showcased at the Dubai Land Department, a division of the Dubai Government, enabling consumers to pay with ease using facial or palm biometrics to verify their identity, eliminating the need for physical cards or mobile devices. PopID powers this innovative system, which is made possible by Network International.
Saif Humaid Al Dhaheri, Vice Chairman of the Board of Directors of the EIF and Assistant Governor for Banking Operations and Support Services at CBUAE, commented on the initiative, saying, “The Central Bank of the UAE reaffirms its commitment to driving innovation and supporting the nation’s digital transformation.” A calculated move toward providing more safe and easy payment experiences is the implementation of biometric payment systems.
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