Paytm has announced that it is testing the Face Login feature for its Android users as an added layer of security. The company has revealed that the new feature is currently under various testing in the company’s Android Paytm Beta application.
The company has revealed that the feature has been tested with over 10,000 distinct faces and witnessed nearly 100 per cent accuracy. To achieve this, the app maps over 200 distinct parameters on the human face for high accuracy. Paytm says that the platform has witnessed multiple users giving away their account details to others and most of them are not comfortable in changing or resetting their password. However, with the Face Login feature, users can enrol their face to access their account.
“We consider the security of our user’s accounts to be of paramount importance. As a large number of users are linking their bank accounts on the app for instant money transfers & UPI, we feel that our users would appreciate the additional layer of security and ease that Face Login offers. Our tech team is currently working on enhancing our proprietary algorithms to make it more intuitive for users. This will make accessing Paytm account even simpler & faster; prevent phishing attacks and offer instant access on the go,” said, Deepak Abbot, Senior Vice President, Paytm.
Previously, the company announced its new foreign exchange services for money exchange of 20 top international currencies. The company will also offer multi-currency Forex card and cash. The service is currently live on the brand’s official website and it will be soon be launched on Android and iOS apps. The company claims that users can load up to $250,000 in a financial year into this card and can buy up to $3000 as currency notes.