Alipay, a China-based mobile and online payment app has collaborated with Wukong Car Rental and introduced the world’s first facial recognition car rental service, powered by cryptocurrency. The concept is hoped to streamline the entire car rental in China.
While cash usage in China reduced, mobile phone payment services such as Alipay and WeChat Pay has dominated the retail market. Consumers in the country already use their mobile phones to pay for everything.
Generally, renting a car can take up to 30 minutes, with Alipay’s new service, consumers only need to scan their face and complete the order via their phones. The entire process is more efficient, and the bottom line is that customers do not have to wait for a long time. Those with a credit score of 550 or more have the right to wave the deposit.
On top of that, the system utilizes crypto technology to track and record the entire rental process. Hopefully, the immutable ledger will help resolve any disputes that may arise.
Reportedly, this service is currently only available in the city of Kunming, Yunan Province. But Wukong Car Rental expects to cover the entire province this coming year.
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