Facial recognition payment service used by over 400,000 people officially launched in South Korea

Fintech company Vivali Publica's mobile payment app "Toss" has officially launched its facial recognition payment service "Toss Feispay."
Toss Feispay allows users to pre-register their face and payment method with "Toss" and make payments simply by looking at the terminal at the store.
The trial operation began in March and expanded to 20,000 stores in Seoul within two months. As of August, over 400,000 people had used the service, with a reuse rate of approximately 60% within one month.
Vivali Publica plans to expand Toss Fei Spey to 300,000 stores nationwide by the end of the year and to 1 million stores by 2026.
The company will also collaborate with various brands, including movie theaters. The company is working with the Personal Information Protection Commission to develop a method for safely handling personal information, such as unique identification information and facial identification information.
All data is encrypted through network isolation, and there is a system in place to compensate in advance for any fraudulent payments.
Vice President Oh Gyu-in, who oversees the Toss Simple Payment Business, said, "We are working to popularize payment terminals.
"We will organically connect 'Toss Place', which allows users to place their order, 'Up in Toss', which provides store-specific services, and 'Toss Fei Pay' to unify the payment experience for users," he said.