Naver Pay has become the first company in South Korea to secure ISO/IEC 24745 certification for the protection of biometric information as it scales its Face Sign facial recognition payment service, as first reported by Biometric Update.
The certification, awarded by LRQA, validates the company's framework for managing sensitive biometric data, including storage and transmission protocols. While the standard does not verify facial recognition accuracy, Naver Pay utilizes artificial intelligence-based anti-spoofing technology and post-quantum cryptography to secure its systems. This development arrives as Naver Financial intensifies competition with rival Toss within the South Korean face-payment market. To incentivize adoption, Naver Pay is offering users 10% cashback in reward points for transactions processed through its Connect payment terminals.
Currently, Toss maintains a larger market presence with approximately 500,000 merchant locations compared to 100,000 for Naver. Both firms are actively subsidizing terminal deployments to expand beyond traditional payment methods. Beyond retail, Naver is broadening the use of Face Sign to include university festivals, sporting events, and airport checkpoints through an integration with the Smartpass system at Incheon International Airport. These strategic moves highlight the growing importance of biometric authentication in the regional financial sector.
Source: Biometric Update
