VeriTrans Inc. (HQ: Tokyo; Representative Director and President: Hiroshi Shino; VeriTrans), a payment service provider and subsidiary of Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG), will provide a facial recognition payment service with NEC Corporation (TSE first section: 6701; HQ: Tokyo; President and CEO: Takashi Niino; NEC) for a cashless payment proof of concept conducted by SEVEN-ELEVEN JAPAN CO.,LTD. (HQ: Tokyo; President: Fumihiko Nagamatsu; SEVEN-ELEVEN) at "SEVEN-ELEVEN Kojimachi Ekimae Store" from March 16, 2020.
The facial recognition payment service, combined NEC's facial recognition payment solution with VeriTrans' credit card payment service, is a payment solution that can be used for a wide range of applications.
■ Outline of the proof of concept
This proof of concept is to verify whether facial recognition payments reduce customer stress and improve convenience while paying, to create pleasant shopping environments for both cash-based and cashless payments.
Targeted at a part of SEVEN-ELEVEN employees, this proof of concept will be held at "SEVEN-ELEVEN Kojimachi Ekimae Store". Participating employees enter the user's information into a facial registration app for consumers in advance, including facial data, credit card information and confirmation code. Two-factor authentication by facial data and confirmation code is performed with the self checkout station, and the payment is completed with credit card information linked to the user ID.
Facial recognition improves convenience via speedy payments that require no special tasks on a smartphone or other device. Also, users can securely use the service as it requires two-factor authentication, combined with the usage of confirmation code.
VeriTrans is providing cashless facial recognition payments, including credit card payment service and "One-click continual charge function," which enables users to pay with only their user IDs that are generated when registering facial data. Users can use this service by linking their IDs and credit card information.
■ VeriTrans4G credit card payment service
VeriTrans4G is a comprehensive payment solution offering high functionality and the highest level of security. In addition to basic payments such as credit cards, convenience stores, and bank payments, it also supports many payment options including electronic money, carrier payments, digital wallets, and international payments.
The VeriTrans4G credit card payment service is based on a system with the highest level of security in Japan, and makes it possible to retain no credit card information. It comes standard with basic functions such as continual charges and card information updating, as well as a wide range of security options to prevent fraudulent usage. VeriTrans4G is also an expandable system, so it can be used for physical stores and omnichannel developments as well as e-commerce.
The "One-click continual charge function" can be utilized to pay for e-commerce purchases, regular online shopping purchases, monthly memberships, and more. It supports various cashless payment formats such as biometric payments (including facial and fingerprint recognition) like this proof of concept, as well as barcode payments via smartphone apps supporting multiple stores and online services.
■ Future developments
Efforts are being accelerated to implement cashless payments in all sorts of scenes in Japan to achieve a goal declared by the Ministry of Economy, Trade and Industry, to raise a cashless payment ratio of 40% by 2025,*. Based on this, solution vendors are offering a range of different solutions to provide both excellent shopping experiences to customers and optimize operational work in actual stores. VeriTrans will offer biometric settlement and other in-person payment solutions together with its partners to help create a safe, secure, and convenient cashless society.
*Source: Ministry of Economy, Trade and Industry, "Cashless Vision" (April 2018) http://www.meti.go.jp/report/whitepaper/data/pdf/20180411002_01.pdf
【About VeriTrans】 https://www.veritrans.co.jp/
A payment provider that carries out online payment, POS payment, barcode payment, and other initiatives for the Digital Garage Group. VeriTrans supports cashless payments and business growth through payment solutions that can be used by business operators in a wide range of industries--such as logistics, services, manufacturing, government ministries, and local governments--in diverse channels including e-commerce, physical stores, and omnichannel developments. As a leader in the payment services industry, which has now grown into a basic social infrastructure, VeriTrans will work with DG Group company ECONTEXT to offer advice to government institutions and the credit card industry, along with speedy service that meets the needs generated by trends in business and policy. Such efforts will support the expansion of convenient solutions, along with a safe and secure environment, as required by EC businesses and consumers.