There was a time when most of us used to use cash for payments. After this, debit and credit cards entered the market and then came the time of demonetization in India. After demonetization, the era of digitization came and then some people started using cash while some people started using apps like Google Pay, PhonePe and Paytm for payments. But do you know that America and China have gone two steps ahead of India?
You will also ask how? America and China are two countries where people neither use cash nor credit or debit cards for payment, but people are making payments by just showing their palm. Are you shocked, how is payment happening by showing hands, how is this possible?
In America and China, some companies are providing this service of payment by showing palm. In America, Amazon is offering this service and in China, Tencent is offering this service. Let us know how the technology of payment by showing hand works?
Palm Payment System: How does the technology work?
If any person wants to make payment by showing hands in America or China, then he has to upload the biometric data of his palm along with his bank account and card details on the cloud servers of companies like Amazon and Tencent.
After this, if you want to make payment by showing your palm, then the scanner installed in the machine confirms your identity by analyzing your palm print and the structure of the veins in your palm. After the identity is confirmed, the payment is made immediately from the bank account linked to your palm.
