PIN numbers will soon become extinct in China as the country has successfuly installed facial recognition technology in their ATM machines.
The prototype was developed first in Beijing's Tsinghua University with the collaboration of Tzekwan Technology, a Hangzhou-based security company. The machine is reportedly 20% more accurate compared to the ATM machines used around the globe.
This breakthrough in China's ATM security system is so immense because for a long time they have been solely relying on the tech produced by foreign countries. This innovation will surely give them an edge and will recognize them even more as an industrialized nation.
Chairman Gu Zikun of the Tzekwan Technoly believes that this kind of technology is the best way to minimize or even eradicate the ATM-related crimes in China and even worldwide.
Facial recognition technology is not largely used in other countries because of privacy invasion concerns. However, China has raised the bar through informing the public with this new security development way ahead of production.
With this development in their ATM's technology, questions have been raised by critics. Who is going to collect the facial data of the users? Who will manufacture the ATM machines? The effectiveness and success rate of the new tech is also another main issue.
Some users are also pessimistic about this kind of technology. Alibaba's founder said, "How much will it take to turn my face into Jack Ma's?"
One ATM user remarked, "What happens if someone had plastic surgery to look like someone else?"
Though it is inevitable that a big change like this in China's ATM security will produce naysayers among competitors and users, it is undeniable that this technology will become a game changer in bank security systems.
There is no final date as to when the ATM will be integrated in other ATMs, but it's sure that everyone in China and around the world is waiting to find out.
