Alibabas payments on "Singles Day" verified with biometrics

Thursday 15 November 2018 10:53 CET | News

Alibaba’s retailer Tmall has conducted 60.3% of its USD 30.7 billion in business with biometric face or fingerprint identity verification, on 11 November.

November 11 is known as “Singles Day” in China, being the biggest day of the year for retailers in the country. A prediction made by Alipay in 2015 suggested that mobile payments would be verified by biometrics rather than passwords within three years. Moreover, Adobe Analytics calculates that US retailers earned a combined USD 14.5 billion on Black Friday and Cyber Monday in 2017.

As per Ant Financial Services Group, Alibaba ecommerce platforms processed 1.7 billion records per second, up from 42 million per second in 2017. The core technologies Alipay depends on are completely open, and the company has opened up its technologies including distributed middleware, distributed databases, blockchain, and biometrics developed since 2015. The company is using blockchain to trace the origins of cross-border orders for 150 million items.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Alibaba, payments , China, biometrics, fingerprint identity, blockchain, cross-border orders, retailers, face verification
Countries: World