“Touchless Technology – Transforming Touch into A Contactless Experience”

In this 21st century era, everything has gone digital, and the technologies are evolving rapidly with 2x speed. From touchscreen mobile devices to touchless technologies, the world is upgrading tremendously. Now, people don’t have to touch a device to do the job. Yes, you read it right! We are talking about Palm Payment Technology.

Tencent, a multibillionaire company, has recently launched a modern and smart palm payment technology that has taken the world by storm. Have you ever thought of making a payment by simply waving your palm in front of a scanner? Never! But, the introduction of palm payment technology has transformed everything greatly. Currently, Tencent’s palm payment technology is used for WeChat pay services.

Overview of Tencent Palm Payment Technology

Tencent’s palm payment technology is a brand-new payment method enabling users to pay for its goods and services by scanning their palms. This brand-new technology combines Palm via recognition and surface-level palm print scanning that uniquely identifies every user.

Tencent’s YouTu artificial intelligence lab developed palm payment technology, first launched in Beijing in June 2023. The technology is currently available at a few metro stations, retail outlets, and restaurants. Soon, the technology will be available to nearby cities in China and other countries.

The Palm Payment Technology is more convenient and secure than other traditional payment methods. People with disabilities can easily access this technology.

How Does Palm Payment Technology Works?

 

Users must first register their palms with Tencent Palm Payment Technology. For that, people need to visit a designated registration centre or can use the WeChat Pay app.

Once a user’s palm has been registered, they can use the technology to pay for goods and services. They can simply scan their palm at a compatible payment terminal and experience a touchless payment in no time.

Palm Payment Technology is a promising new technology possessing the potential to revolutionize the way we make payments. It is more convenient, secure, and accessible than traditional payment methods.

Still, wondering how Tencent or Amazon palm payment payments work? Here are the steps on how it works:

#Step 1 – Users register their palm prints with the service

#Step 2 – Users hold their hand over a scanner at a participating merchant

#Step 3 – The scanner captures the user’s palm prints and then compares them to the registered prints

#Step 4 – If the prints match, the payment will be processed

It is how the amazing palm payment technology works and ensures seamless contactless and touchless payment.

Who Can Use Tencent Palm Payment Technology?

Currently, the Tencent palm payment technology is available to residents in mainland China with verified real name verification. The service is also only available at select merchants & locations and will, later on, be applied to nearby cities.

Users must first register their palm print with Tencent to use the technology. Once their palm print is registered, they can simply wave their hand over a palm print recognition scanner to pay for goods or services.

People need to follow certain requirements for using the Tencent palm payment technology, as listed below – 

• A resident of mainland China
• WeChat Pay account
• Completed real name verification
• Registered palm print with Tencent

What Are the Benefits of Using Palm Payment Technology?

The introduction of palm payment technology has benefited businesses and people greatly. There are several benefits of paying with palm, as mentioned below.

• Security

Palm payment technology is a more secure payment method than traditional methods. It is because palm prints are unique and cannot be easily replicated. So, you can ensure more security while integrating palm payment within your system.

• Convenience

Compared to traditional payment, Palm payment technology is a more convenient payment method. The reason is that users do not need to carry a wallet when they go out. They can simply wave their hand over a scanner to pay for their goods or services. It ensures more convenience and security.

 

 

• Hygiene

Palm payment technology is more hygienic than traditional payment methods such as cash or credit cards. Users need not touch any physical device while making a payment to ensure better hygiene. So, palm payment technology is more hygienic than the other payment methods requiring contact.

• Better Accessibility

Palm payment is accessible to people with disabilities who may have difficulty using traditional payment methods. It is one of the major and unique features of palm payment technology that makes it stand out from the rest of the competition.

These are some of the major benefits of using Palm payment technology that is revolutionizing today’s market and benefiting businesses greatly.

How Much Does It Cost to Develop A Software Like Palm Payment?

The cost of developing software like Palm Payment depends on several factors, including the features you want to include, the software’s complexity, and the developer’s experience.

Here are some of the factors that can affect the cost of palm payment technology development:

• Features: The more features you include in the software, the more it will cost to develop. For instance, adding payment gateway integration and other features has some associated costs.

• Complexity: The more complex the software is, the more it will cost to develop. For instance, if you want to add all the new technology trends into your software, it will make the software a little complex, adding more cost.

• Developer’s Experience: The more experienced the developers you hire, the more it will cost to develop the software. So, hire dedicated developers from a reputed firm, as it requires little cost initially, but the outcomes will be worth it.

In general, the cost of developing software like Palm Payment can range from $15,000 to $25,000 and more. The final cost will be dependent on the requirements given by the clients. So, if you plan to develop software like Palm Payment, consider the cost of development against the benefits of custom solutions. However, if you are on a tight budget or need a solution quickly, an SDK or white-label solution may be a better option.

Final Thoughts!

So, this was all about the popular palm payment technology that is making noise in the market these days. Now that you know “What is palm payment technology?” or “How much does palm payment technology cost?” begin the development process immediately. Connect with Dev Technosys, a leading mobile app development company and our experts will help you deliver perfect business solutions. Drop your requirements today.

 

Frequently Asked Questions

 

Q1. What is Palm Payment Technology?

Palm payment technology is a biometric payment method that uses the unique characteristics of an individual’s palm to facilitate secure and convenient transactions. It captures and stores palm vein patterns for authentication and payment processing.

 

Q2. How Does Palm Payment Technology Work?

Palm payment technology works by scanning the vein patterns in a person’s palm using infrared light. When making a payment, the user places their palm on a scanner, and the system verifies the palm’s identity against the stored data for authorization.

 

Q3. Is Palm Payment Technology Secure?

Yes, palm payment technology is highly secure. Unlike passwords or PINs, palm vein patterns are unique to each individual and extremely difficult to replicate.

 

Q4. What Are The Advantages of Using Palm Payment Technology?

Palm payment technology offers several benefits, including enhanced security, convenience, and speed. Users don’t need to carry physical cards or remember PINs, making transactions faster and more straightforward. Businesses can leverage such technology within their systems.

 

Q5. Where Can I Use Palm Payment Technology?

Various industries, including retail, hospitality, and transportation, are gradually adopting palm payment technology. You can use it at locations where palm scanners are installed, such as retail stores, airports, and theme parks.