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PayByFace, a Romanian Fintech, to pilot facial recognition payments with Raiffeisen Bank Bulgaria

13th Mar 2021

Raiffeisen Bank Bulgaria announced it started testing a use-case with PayByFace, a Romanian Fintech that enables facial recognition payments. The pilot launched in Sofia at a bistro in Raiffeisen's headquarter is part of the Visa Innovation Program that encourages new payment methods and fintech innovations in the region. 

To pay only with facial recognition, users must register first in the PayByFace app, take a selfie and enter their payment card details. At the point of sales, a tablet will recognize the customer's facial features and allow them to pay without a card, just by showing their face. 

Thus, the customer receives the product without touching any device, and his face replaces the payment card.

Until the end of April, PayByFace will be available to Raiffeisen's customers at Bistro Luna in Expo 2000 Office Park in Sofia, where the bank's headquarters is located. 

"At PayByFace we are excited to have the opportunity to test our face recognition-based payment system in partnership with Raiffeisen Bank Bulgaria. This pilot project represents an extraordinary opportunity for us to gain trust through association.", said Mihai Dragici, founder and CEO of PayByFace.

The bank aims to assess Bulgarian consumers' attitudes towards a new payment method, which doesn't require having a card or a mobile phone.

"It is extremely exciting for us to test payments with facial recognition and see what the attitude of Bulgarian users is to one of the latest methods of identification. This pilot project, together with PayByFace, is another step towards providing an even more interesting, secure, and convenient payment for our customers, as the card of the customers is actually their smile," says Mariella Atanasova, Head of Retail Banking at Raiffeisen Bank Bulgaria.

Visa Innovation Program is an initiative of Visa and Eleven Ventures that encourages the entry of the latest fintech innovations into banking and payment systems.

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