Finance
JPMorgan to Test Using Face or Palm Recognition for Payments
- Pilot program may include this year’s Formula 1 race in Miami
- Biometrics seen reaching $5.8 trillion of transactions by 2026
Source: SOPA Images/LightRocket/Getty Images
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JPMorgan Chase & Co. is planning to test new technology that would let consumers pay with their palms or faces at certain US merchants.
The bank, home to one of the world’s biggest payment-processing businesses, plans to roll out the service to its broader base of US merchant clients if the pilot program goes well, according to a statement Thursday. The pilot may include a Formula 1 race in Miami as well as some brick-and-mortar stores.