Federal Bank has introduced SmilePay, a payment technology that allows customers to complete transactions using just their facial recognition. Launched as India celebrates its 78th year of independence, this innovative product signifies a major leap forward in the country’s journey towards greater financial freedom and convenience.

The announcement was made by Ms. Shalini Warrier, Executive Director of Federal Bank, at the Global Fintech Fest. SmilePay is the first payment solution in India to utilize facial authentication technology, built on the Bhim Aadhaar Pay platform by UIDAI. This technology aims to eliminate the need for cash, cards, or mobile devices, offering customers unmatched convenience while enhancing efficiency for merchants.

Reliance Retail and Svatantra Micro Housing Finance Corporation (SMHFC), led by Ananya Birla, are among the first to trial this technology at select outlets and branches, respectively. “SmilePay is a step towards a more connected and efficient financial ecosystem,” Warrier stated, expressing optimism about the potential transformation in banking experiences for customers.

V Subramaniam, Director of Reliance Retail, emphasized the alignment of SmilePay with the company’s vision of providing seamless, secure, and innovative customer experiences. Similarly, Vineet Chattree, Director of SMHFC, highlighted the alignment with their customer-centric approach, confident that SmilePay represents a significant step toward enhancing convenience and security for their clients.

Initially available exclusively to Federal Bank customers, SmilePay is set to expand through strategic partnerships, broadening its reach in the near future.