Tencent takes palm payment to Singapore

Shenzhen-based tech giant Tencent recently announced plans to export its palm payment technology through a strategic partnership with Visa. 

According to Shenzhen Special Zone Daily, the company will introduce its palm recognition technology for digital payments in international markets, starting with a rollout in Singapore.

Tencent unveils its overseas expansion plan for palm recognition technology at the 9th Singapore FinTech Festival on Nov. 6, announcing a partnership with Visa to introduce the technology to the international payment market. Photo from WeChat account "腾讯金融科技"

Singapore's DBS, OCBC, and UOB banks have partnered with Tencent and Visa, enabling their Visa cardholders to use palm payments at AIchemist coffee shops in Singapore. Users can link their bank cards to their palm information via Tencent devices, allowing quick, cardless, and phone-free payments with a simple wave of their palm.

Tencent's real-time, high-precision palm payment technology uses dual-factor identification based on each person's unique palm print and palm vein pattern. 

Users must complete a one-time enrollment at the merchant point of sale by tapping their Visa card, scanning their palm, and authenticating. After enrollment, a Visa payment token links to their palm, enabling future payments at participating merchants.