Cards and PIN numbers will soon no longer be enough to withdraw cash from ATMs in China.
According to Xinhua news agency, Beijing's Tsinghua University and Hangzhou-based security company Tzekwan Technology have developed a facial recognition ATM in hopes of reducing ATM-related crimes.
The ATM works by capturing the facial features of the user before comparing it to a database of identification photos. Developers claimed that the ATM could still identify people even if their features have changed.
Tzekwan chairman Gu Zikun, said that the ATM has received government certification and will soon be available on the market. However, it is unclear how the machine will collect facial data or who will manufacture them.
Besides preventing unauthorised access to bank accounts, the ATM could also identify fake notes, said Gu. He added that the machine is 20 percent more accurate at verifying the authenticity of multiple currencies compared to the average ATM used globally.
Even though the topic of biometrics ATMs isn't new, the technology has yet to take off on a large scale due to privacy concerns and cost. Japan, however, has been an early adopter, deploying 80,000 of such ATMs which allow customers to withdraw money or conduct other banking transactions via a fingerprint or finger vein scan.
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