Chinese E-commerce Giant poised to adopt Biometric Security for M-payments

Alipay, the online payment service by alibaba, recently announced collaboration with Huawei to bring mobile payments using fingerprints as verification. The new biometric enabled payment service would firstly be launched on Huawei’s upcoming smartphone Ascend Mate 7 which is embedded with the fingerprint sensor and would be debuting at IFA 2014 later this week. Alipay had also started the fingerprint authentication service on Samsung Galaxy S5.

A simple swipe on the biometric sensor would enable the user to make payments and conduct transactions using Alipay accounts. Alipay is also considering other phone models for its fingerprint based authentication system. Because of the government’s ban on QR code based payment service, Alipay is counting on the biometric based payment as an alternative. The People’s Bank of China had halted code scanning payments citing reasons that it is closely linked to consumer’s personal information and assets security.

To make the service more effective, Huawei would be using a specific type of technology from preventing third-party apps to read the user’s fingerprints. With handset makers like Apple and Samsung promoting fingerprint sensors, even brick-&-mortar banks in China are looking forward for its commercial use. Tencent is also looking forward to integrating fingerprint payment into its instant messaging app WeChat.

Alipay users can find the biometric feature in the Alipay Wallet app which currently has over 100 million users. Huawei will provide a chip-level security for the Mate 7 which would enable fingerprint data to be stored on the phone in encrypted form. Huawei will use high-level encryption and verification to ensure that on ...


To read this article, create a free account

Already a member? Log in

Annual Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.




instant access to reports and global community along with donation to COVID-19 fund.

Quarterly Subscription

12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.




instant access to reports and global community

--------------- Reasons to buy ---------------

Understand the “Why” Behind the “What”

MEDICI offers data-driven, original, unique, and forward-thinking content to understand the “why” behind the “what”

10,000+ insights, 100+ research reports, and 1,000+ videos based on data, collected and processed by top-in-class researchers with over seven years of experience in the financial service industry.

Actionable Insights

We do not stop at the data; we analyze it and extrapolate actionable insights that shape and forecast market trends. All of our pieces are neutral, authentic, and unique – this means that you can’t read them anywhere else!

Data Visualization

We do also care about design. It’s why our infographics are the most-used ones in company reports and the most shared ones on social media.

Growing Proprietary Database of 13,000+ FinTech Companies

We have one of the largest databases with more than 13,000 company profiles listed across 60+ verticals! The database contains primary data collected in two ways:

Through our Global Listening Engine – a proprietary algorithm able to extrapolate and collect data across numerous sources

Directly from FinTechs – thanks to the onboarding flow through which companies can list themselves on the most used database for venture capital in the industry

Join the Largest Global FinTech Community

You will be added to our private WhatsApp Channel with more than 200 FinTech leaders across the globe, where we engage in discussions around various financial services topics daily. After a few clicks, you’ll get to know the whole community, including the MEDICI team – you can ask questions, suggest topics, and get behind-the-scenes insights


What is MEDICI Inner Circle™?

MEDICI Inner Circle™ is the membership you need to freely access all MEDICI content, which includes insights, research reports, videos, startup knowledgebase, and the members-only community for live engagement.

What topics do you cover?

We cover more than 60+ sub-segments in FinTech – but we do not stop there; we also cover topics beyond FinTech, such as InsurTech, RegTech, PropTech, WealthTech, BankTech, AgriTech, and the enabling technologies enabling innovation such as AI, Blockchain, etc.

What do I get if I buy the membership? Is there a difference between being a free subscriber and being a member?

By becoming a member, you will unlock all the content on our website. A free subscriber gets access to only 5% of what we publish on the web-site. Paid members also get preferred access to our live events, and exclusive access to the members-only community for live digital engagement.

Do you have a discounted plan for students?

Yes. Please write to us at

Do you have an enterprise plan for corporates or groups?

Yes. Please write to us at

Do you offer refunds?

We offer a 7-day free trial during which you can access all of our data, insights, and analyses. You can cancel the subscription any time before the end of the free trial period. However, we do not offer refunds.

Unlock this article by signing up for MEDICI Inner Circle

--------------- OR ---------------