PopID provides a trusted and secure platform that enables businesses to give their customers and employees the option of authenticating their identity through consumer-initiated facial recognition. The service is currently being used for entry into buildings and events (PopEntry) and payments (PopPay).
ESPs containing PopID
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The biometric payments market offers a more secure and convenient way for customers to authenticate their identity and make payments. With the increasing threat of identity theft and fraud, biometric authentication provides an invulnerable solution that is resistant to social engineering, malware, and tampering. Biometric payments also offer a frictionless, touchless, and real-time user identifica…
Research containing PopID
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned PopID in 5 CB Insights research briefs, most recently on May 24, 2023.
Expert Collections containing PopID
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
PopID is included in 5 Expert Collections, including Payments.
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Companies developing artificial intelligence solutions, including cross-industry applications, industry-specific products, and AI infrastructure solutions.
Store tech (In-store retail tech)
Companies driving more efficient payment and checkout for retailers and shoppers.
These companies protect organizations from digital threats.
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
PopID has filed 3 patents.
Face recognition, Sensors, Biometrics, Locks (security device), Security technology
Face recognition, Sensors, Biometrics, Locks (security device), Security technology
Latest PopID News
Jul 25, 2023
The face-swiping payment market is expected to witness substantial growth in the coming years, with the global market size projected to reach USD 18.46 billion by 2030, expanding at a CAGR of 19.9% from 2023 to 2030. The rise in digitalization accelerated by the COVID-19 pandemic, coupled with the increasing penetration of the internet worldwide, is anticipated to drive market growth. Moreover, the growing adoption of face-swiping payments and increased investments in the technology by key market players like Mastercard, Alipay, and PopID, Inc. are expected to further fuel the market's expansion during the forecast period. One of the significant factors contributing to the growth of the face-swiping payment market is the increasing investments by venture capital firms and fintech companies in tech start-ups. These investments aim to help these companies expand their product portfolios and strengthen their market position. For instance, PayByFace B.V., a biometric payment POS platform provider, received a strategic investment from SafexPay, a fintech firm, in June 2022. The investment was aimed at accelerating the global growth of PayByFace B.V.'s face biometric payment solution. Face-swiping technology enables consumers to make purchases effortlessly by facing camera-equipped point-of-sale (POS) machines, ensuring faster and more secure face payments. Notably, mobile wallet providers like Alipay have extended support for the face swipe feature to enable users to make quicker payments, driving further adoption of the technology and positively impacting market growth. The ongoing COVID-19 pandemic has also been favorable for the face-swiping payment industry. The growing demand for biometrics for verification or unlocking mobile phones has made consumers more familiar with the use of biometrics, presenting new growth opportunities for face-swiping payment solutions. According to a 2021 survey by IDEMA, 84% of respondents use biometric authentication methods, and approximately 43% of respondents have utilized facial biometrics to unlock smartphones. Key Highlights of the Face-Swiping Payment Market Report: Rapid Growth of Payment System Segment: The payment system segment is expected to witness rapid growth over the forecast period, driven by increasing investments in face-recognition technology for introducing biometric face-swiping payments. Steady Growth in the Travel Segment: The travel segment is projected to witness steady growth, fueled by the rising demand for AI-enabled payment platforms for fare collection in various modes of transport such as buses and metros. Dominance of Asia Pacific in 2022: Asia Pacific led the industry in 2022, with the growing adoption of face-enabled payment terminals across the region expected to propel regional growth. The face-swiping payment market report provides valuable insights into the industry's trends, dynamics, challenges, and opportunities. The report includes detailed market segmentation by type (payment equipment and payment system), application (retail, restaurant, travel, and others), and region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa). It also presents a comprehensive analysis of key market players, their financial performance, product benchmarking, and market positioning. Investors, fintech companies, and key stakeholders can leverage the report's quantitative and qualitative analysis to make informed decisions and capitalize on the growth potential of the global face-swiping payment market. Market Dynamics One of the primary drivers shaping the market is the heightened use of facial recognition technology across industries. From security and surveillance to healthcare and retail, the adoption of facial recognition has witnessed a significant surge. Another key driver propelling the market's expansion is the rising preference for digital payments among customers. With consumers increasingly embracing digital transactions, the demand for seamless and secure facial recognition-based payment solutions has never been greater. However, the market is not without its challenges. The evolving legal framework and privacy concerns have emerged as critical obstacles that need to be navigated prudently. [Your Company Name] acknowledges the significance of these issues and works relentlessly to ensure its facial recognition solutions comply with all relevant regulations and prioritize user privacy, instilling trust among its clientele. Amidst these challenges, there lie tremendous opportunities for growth. The increasing partnerships between companies and the influx of private investments for facial recognition capabilities present a promising landscape. Companies Mentioned: Visionlabs
PopID Frequently Asked Questions (FAQ)
When was PopID founded?
PopID was founded in 2016.
Where is PopID's headquarters?
PopID's headquarters is located at 6800 Owensmouth Avenue, Canoga Park.
What is PopID's latest funding round?
PopID's latest funding round is Series B.
How much did PopID raise?
PopID raised a total of $15M.
Who are the investors of PopID?
Investors of PopID include Cali Group, The Wasserstrom Company, Japan Computer Vision, SmartCityX, Wavemaker Partners and 4 more.
Who are PopID's competitors?
Competitors of PopID include Payface and 7 more.
Compare PopID to Competitors
Onfido delivers an artificial intelligence (AI) based technology with facial biometrics. It allows businesses to tailor verification methods to individual user and market needs in a no-code. It serves financial services, gaming, healthcare, telecommunications. and other industries. It was formerly known as Referencebox and Verifyrecruit. The company was founded in 2012 and is based in London, United Kingdom.
Yoti is a digital identity platform to find a secure way of proving identities online and face-to-face. The company uses artificial intelligence (AI) and machine learning (ML) algorithms for secure age-checking services by sending verified details for secure registration and authentication into websites and offers data encryption to ensure customers' personal details are stored securely. It was founded in 2014 and is based in London, United Kingdom.
PayByFace provides a secure digital payment ecosystem for a convenient shopping experience. It offers a cardless payment merchant kiosk device directly at the store and allows users to use facial recognition to make purchases. PayByFace was founded in 2018 and is based in Bucharest, Romania.
Trulioo operates as a global identity and business verification company. It provides secure access to traditional and alternative data sources worldwide to instantly verify consumers and businesses online. It was founded in 2011 and is based in Vancouver, Canada.
Jumio is an identification credentials authentication company that helps businesses reduce fraud, meet regulations, and increase revenue. Jumio utilizes proprietary, computer vision technology and document experts to verify credentials, including passports and driver's licenses issued by over 130 countries.
Wink provides a biometric-based strong authentication and payments platform. It delivers a passwordless omnichannel checkout and login combining face and voice recognition, artificial intelligence, and machine learning technology to help to provide secure passwordless login and payment. The company was founded in 2021 and is based in Plano, Texas.