China's top fintech adviser sees 'bright prospects' for facial recognition payment systems

China's top tech adviser for the financial sector sees "bright prospects" for facial recognition payment systems despite lingering concerns over privacy and data security. The artificial recognition-powered payment method is expected to be widely used across the country because it offers convenience and efficiency, according to Chen Jing, a member of the State Council's Advisory Committee for State Information and former chief of the central bank's technology division. Still, regulations need to be in line with the technology, which means limiting use to qualified service providers and capping the amount of payment allowed, Chen told The Beijing News in a report on Thursday. "Development is of overriding importance because falling behind is the biggest cause for concern," Chen was quoted as saying. "Through dedicated exploration and efforts, face-scan payment will win recognition from society."