By Staff writer
Project which will allow individuals to pay for items by taking a selfie is backed by the Bill and Melinda Gate Foundation
A “Pay with a Selfie” concept, funded by the Bill and Melinda Gate Foundation, will be introduced to Abu Dhabi’s Khalifa University, reported The National.
The project will allow individuals to pay for items by taking a selfie of themselves, the seller, and the price tag of the purchase, and sending it to a third party to process the payment.
An encryption software at the retail outlet will then reconstruct the images of the buyer, seller and cost amount to validate the payment before it is completed.
The concept is meant to help those without access to cash, debit or credit cards, ATMS, or banks.
The foundation has given the university’s professor, Dr. Ernesto Damiani, $100,000 (AED 367,000) to develop the concept.
“Everybody has a smartphone, even in rural or developing areas where there is not much technology, and everyone takes selfies. So the ability to use these pictures and combine them with a form of encryption that is unforgeable, and use this as a method of payment, will certainly change how transactions are made in developing countries,” said Dr. Damiani.
He added that the project may even aid in the transition of bartering systems to monetary systems, which will in turn help grow the economy.
The university’s senior vice president said he was pleased with the project and that will be “truly inspiring for them.”