Visa reopens Singapore Innovtion Centre

Amongst those displayed is a pay-by-palm tech where you pay by scanning your palm.

Visa has opened its transformed Singapore Innovation Centre, a dedicated space for its partners, clients, and businesses in Asia Pacific.

The center aims to enable stakeholders to engage with Visa technologists and co-create payment solutions ahead of demand; deliver scalable innovation; and address the biggest challenges and opportunities in digital payments, Visa stated in a press release.

It also aims to be a springboard for thought leadership in decentralised and embedded finance, offering tailored solutions for businesses and fostering innovative collaborations with startups, according to Visa.

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At launch, the centre showcases a variety of upcoming technologies, including pay-by-palm or the use of unique palm signatures for identity verification. Visitors can experience hovering their palm over a reader and linking their unique signature to their payment card for transaction.

Whilst still in early adoption stages, it's already making waves in urban mobility in China and the retail sector in the United States, according to Visa. 

Visa is also exploring the use of Gen AI to analyse anonymised biometric and payment data; businesses can also gain valuable insights for personalised recommendations.