The world’s first facial recognition ATM has been unveiled by China. The ATM will not allow users to withdraw cash unless their face matches their IDs. The machine was created by Tsinghua University and Hangzhou-based technology company Tzekwan. The creators believe that the technology will curb ATM-related crimes. The product has already passed certification and would soon be available for sale.

China currently relies mostly on imported ATM technology. The new ATM combines high-speed banknote handling, improved counterfeit-bill recognition, and facial recognition, was wholly Chinese.  ATM machines using fingerprint authentication are coming up in countries like Chile and Colombia. These biometrics ATMs are not being used by some countries, such as the United States, because of privacy concerns and its high cost.

However, the technology is yet to take a major foothold because of security concerns and cost, while key questions remain about its viability.

Tidbits

• ATM stands for Automated Teller Machine.
• John Shepherd-Barron pioneered the development of the ATM.
• The First Bank to introduce ATM in India was HSBC Bank.
• The first mobile ATM was introduced by ICICI Bank.