Serbia set to introduce face recognition payment tech

Thursday 3 January 2019 09:12 CET | News

National Bank of Serbia has announced introducing a face recognition system, as part of its instant payments solutions, launched in October 2018.

Customers will be able to make payments using Skype or visual identification, according to National Bank of Serbia representatives. Although they are ready to start immediately, bank officials have stated that they need to wait for a new evaluation of Serbias progress in terms of preventing money laundering in order to launch this new service.

The exact date will be known after the Moneyval (the Council of Europe Committee for the Prevention of Money Laundering and Financing of Terrorism) meeting on January 23. At that meeting, Serbias progress in applying all regulations to prevent money laundering will be checked, and if the opinion of this institution is positive, face payments may begin as early as in February 2019.

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Keywords: Serbia, National Bank of Serbia, Europe, service launch, face recognition, fintech, payments, financial technology, instant payments
Countries: World