Boldswitch Launches FacePay, the World's First Face-Based Payment System

Lagos, Nigeria - Nigerian fintech startup Boldswitch has unveiled FacePay , a first-of-its-kind payment technology that allows users to transfer money simply by taking a photo of a recipient's face.

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With this breakthrough, Boldswitch eliminates the need for account numbers, phone details, or payment cards. Using the Boldswitch app, a sender activates the FacePay feature, takes a quick picture of the recipient, and the platform instantly verifies the individual's identity and completes the transaction within seconds.

"We wanted to make sending money as natural as greeting someone," said Glad Akhison, Founder and CEO of Boldswitch. "With FacePay, you can pay a vendor, tip a waiter, or send money to a friend instantly without asking for their bank details-just their face."

How It Works

FacePay is powered by advanced AI facial recognition and real-time identity matching. To prevent fraud, the system incorporates liveness detection, ensuring only real individuals-not photos, videos, or deepfakes-can receive funds.

For individuals not yet registered on Boldswitch, the app generates a fallback QR code, enabling instant payment with equal ease.

Security and Compliance

Security has been positioned as the cornerstone of the technology. FacePay integrates bank-grade encryption, multi-layer biometric verification, and anti-spoofing safeguards. Importantly, biometric data is never stored or shared without explicit user consent. Boldswitch emphasizes that the platform aligns with international data protection and privacy standards.

Expanding Use Cases

Beyond peer-to-peer transfers, FacePay introduces new opportunities for frictionless transactions, including:

* Tipping service providers without cash
* Paying street vendors in cashless environments
* Instant payouts for gig workers and freelancers
* Seamless donations to charities
* Identity verification for events and secure services

A Global First

FacePay represents the world's first payment solution to use a person's face as the sole payment identifier. By eliminating traditional barriers, the system holds potential to redefine payments globally, particularly in markets with limited banking infrastructure.

The launch begins in Nigeria, with Boldswitch planning international expansion through strategic partnerships, patent protections, and regulatory approvals.

About Boldswitch

Boldswitch is a Nigerian fintech company developing secure, simple, and inclusive financial solutions. Founded by entrepreneur Glad Akhison, the company is dedicated to bridging gaps in digital finance, driving financial inclusion, and making money movement effortless.
Media Contact
Company Name: Boldswitch
Contact Person: Glad Akhison
Email: Send Email [http://www.universalpressrelease.com/?pr=boldswitch-launches-facepay-the-worlds-first-facebased-payment-system]
Country: Nigeria
Website: https://Boldswitch.ng

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This release was published on openPR.