Paymark is one of New Zealand’s leading fintechs. They've been at the forefront of electronic payment technology for decades, pioneering NZ’s EFTPOS system in the 1980s.
They're now developing next generation cloud-based payments. One of their latest innovations is a new facial recognition payment system. Paymark is collaborating with Spark to test their new technology in the Spark 5G Lab.
Paymark believes the advantages of 5G include deploying their software at faster speeds (payments need near-zero latency) while allowing them to move costly infrastructure into the cloud. This will shrink the hardware required to run innovative payment technologies like facial recognition. It will also reduce the cost to deploy this technology across small and large retailers alike.
This Kiwi technology company is all about making the payment process a frictionless experience for consumers, while reducing cost and creating efficiencies for retailers.