Ant Financial’s mobile payment platform Alipay has launched its latest facial recognition tool and said it plans to spend RMB 3 billion ($448 million) on promoting the new system across China, said Yicai Global.
Alipay introduced Dragonfly 2, the second-generation of facial recognition payment equipment, which is much smaller and lighter than its predecessor, according to a post on Alipay’s official Weibo account.
Dragonfly 2 can be folded to the size of a book and can even fit inside a coat pocket. The scanner is priced at RMB 1,999 ($298.50), nearly 30% less than the previous version. Alipay is also offering additional discounts during the pre-sale period to bring the price down to RMB 1,199.
Alipay released its first-generation facial scanner last December and is used in more than 300 cities across the country.