Russia's Sberbank to launch biometric payments

Russia's Sberbank to launch biometric payments
Russia's largest bank Sberbank to test cardless biometric payment, using fingerprints and face recognition
By bne IntelliNews August 19, 2019

Russia's largest bank and digital innovation leader state-controlled Sberbank will test payments with fingerprints and face recognition without the use of payment cards or gadgets,  Vedomosti daily reported citing the information of the bank.

As reported by bne IntelliNews, Russian banking system is on the forefront of developing systems based on recognition of biometric data.
Since October 2018 reports have suggested that Sberbank considers developing its own biometric platform that would compete with the United Biometric System (EBS) of the Central Bank of Russia (CBR). The bank ramped up investment in speech recognition start-ups and started collecting biometric samples from its clients.

Reportedly, testing pre-registration terminals will be installed in partner shops, which would allow Sberbank customers to provide a biometric sample for future cardless payments, or use the sample already affiliated with his or her account. No further details were provided.

According to Vedomosti, Sberbank has launched a tender on acquiring biometric terminals and software in 2019. Previously in 2016 the bank tested fingerprint payments in 20 Azbuka Vkusa premium food stores, with about 400 frequent users of the payment option.

Another Sberbank biometric projects include Ladoshki (Little Palms) which would inform the parents on children entering and leaving the school, and allow for biometric payment of school lunches. The bank also tests face identification by ATMs. 

Analysts surveyed by Vedomosti note that while currently Sberbank and central bank's EBS are competing for collecting the widest biometric sample database, Sberbank could beat the regulator by faster launching of the services actually using the biometric data and motivating the clients to submit it.  

Related Content