Founded by Jack Ma in 1999, Alibaba is China’s largest ecommerce company. It owns the shopping site Taobao, well known for its annual Singles Day mega sales -- which is bigger than Black Friday.
The rise of facial recognition payments in China has also given rise to privacy concerns. This could soon be addressed with a planned new regulation that deals with collecting, transferring, storing and using facial data used for payments, according to Xinhua.
China has been forging ahead in the adoption of facial recognition. Alipay and WeChat Pay, two leading mobile payment services in China, are both deploying their facial recognition-supported POS devices across China. Banks are also rolling out their own facial recognition payment services.
While some users have concerns over the technology, many people have also embraced it. The country now has more than 100 million people using facial recognition payments, according to tate media.
It looks like more regulations on the technology are also on the way in Europe and the US. Amazon CEO Jeff Bezos said that the company is working on proposing regulations on the broader use of facial recognition.