Visa Says Will Approach Palm Payment Pilot Program Carefully -- Market Talk

Dow Jones

2024/11/08

1102 GMT - Visa is approaching the pilot program for palm biometric digital payment in Singapore carefully, country manager Adeline Kim says. The need to balance a seamless customer experience and concerns about data security is important to consider, Kim says on the sidelines of the Singapore FinTech Festival. Tencent and Visa on Wednesday announced their collaboration to pilot the technology's rollout in the city-state. Kim adds that Visa will consider privacy and regulatory concerns when scaling the technology to ensure the right steps are taken before launching it commercially. Work is also under way to improve practices surrounding consumer consent to capture their data, which hasn't been as pervasive in Asia as in Europe, she says. (kimberley.kao@wsj.com)

(END) Dow Jones Newswires

November 08, 2024 06:02 ET (11:02 GMT)

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The need to balance a seamless customer experience and concerns about data security is important to consider, Kim says on the sidelines of the Singapore FinTech Festival. Tencent and Visa on Wednesday announced their collaboration to pilot the technology's rollout in the city-state. Kim adds that Visa will consider privacy and regulatory concerns when scaling the technology to ensure the right steps are taken before launching it commercially. Work is also under way to improve practices surrounding consumer consent to capture their data, which hasn't been as pervasive in Asia as in Europe, she says. 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