Tencent has partnered with Visa to introduce its palm recognition payment technology, “Pay by Palm,” to international markets, beginning with Singapore. This cutting-edge service allows Visa cardholders from participating banks such as DBS, OCBC, and UOB to make secure, contactless payments by simply scanning their palms. The pilot launch took place at the Singapore Fintech Festival (SFF), where attendees could experience the technology firsthand at Tencent and Visa booths.
Seamless Payments at Participating Merchants
During the pilot, users can make payments at Alchemist café in Singapore by simply waving their palm over the reader, eliminating the need for physical cards or smartphones. Tencent and Visa plan to expand this service in the near future.
Yang Wenhui, General Manager at Tencent Financial Technology Asia Pacific, introduced the initiative during his keynote at SFF, emphasizing the user-friendly experience, advanced technology, and privacy compliance of Tencent’s palm recognition system. Tencent, through its Singapore-based subsidiary Tencent SenseTech Pte. Ltd., is committed to supporting various industries while meeting data localization requirements.
A Secure and Convenient Payment Experience
Adeline Kim, Visa’s Country Manager for Singapore and Brunei, expressed excitement about the partnership, noting that nearly 70% of Singapore consumers consider this payment method secure. She added, “Together with Tencent, we are excited to transform the future of payments.”
To use Pay by Palm, users must complete a one-time registration at a participating merchant’s point of sale. After tapping their Visa card, they scan their palm and authenticate the process. Their palm print is then linked to a Visa payment token, allowing them to simply wave their palm to pay during future transactions.
Tencent has focused on ensuring the security of its Pay by Palm service by developing advanced hardware and software that can accurately detect palm prints and vein patterns, even in challenging lighting conditions. All user data is encrypted and stored in a way that protects it from unauthorized access or misuse.
This collaboration marks a major leap forward in contactless payment technology, as Tencent and Visa work together to improve payment convenience, security, and user experience in Singapore and other regions.
