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|JINAN Cesar Azpilicueta World Cup Jersey , Sept. 20 (Xinhua) -- At the Agricultural Bank of China's (ABC) three outlets in Jinan City, cards are no longer needed to withdraw money. A quick scan of the face will do.
"One of the best things about facial recognition technology is that you don't have to carry your cards with you for petty deposits and withdrawals," said Xu Yanru, lobby manager of ABC's Heping Road outlet in Jinan, capital of east China's Shandong Province.
ABC has introduced facial recognition technology at its automatic teller machines (ATM). Other banks, such as the China Merchants Bank and the Construction Bank of China, have also introduced similar technology in their ATMS.
"All you have to do is to press the facial recognition withdrawal button Bruno World Cup Jersey , scan your face in the camera, enter your phone number or ID number, and enter your transaction amount and password," said Zhang Baojing, a banking manager at ABC.
Zhang said that the technology can eliminate the risk of having bank cards illegally copied, and lower the possibility of cards getting eaten by ATMS.
"It can enhance the customer experience," Zhang said.
Technology staff at ABC said that facial recognition is safe because it also requires ID numbers or phone numbers and passwords. In addition Aritz Aduriz World Cup Jersey , customers' photos will be compared with those in the public security system. The latest infrared cameras also lower the risk of illegal activities.
The ABC limits the daily withdrawal to 3,000 yuan (457 U.S. dollars) via the technology. The bank plans to install the facial recognition technology at 24,064 outlets across the country, according to web portal Sohu.
ABC is not the first bank in China to introduce the facial recognition technology. In 2015, China Merchants Bank started using the technology in the southern metropolis of Shenzhen. Last year, it expanded the service to about 1,000 ATMs in 106 cities.
But the new service faces some difficulties Andres Iniesta World Cup Jersey , such as high maintenance costs.
"Many senior citizens might find it hard to trust or get used to this way of withdrawing money," said Yang Gan of the Smart City Research Institute in southwest China's Guizhou Province.
But Yang said it will only be a matter of time before the technology permeates society.
"In the future, payment via facial recognition and mobile payment will be complementary," Yang said.
In China, the rapid development of facial recognition technology has led to its use in a number of innovative ways. Beijing's Temple of Heaven has used it in toilets to deter toilet paper theft. In Jinan City, traffic police have installed facial scanners at intersections to catch and shame jaywalkers. Supermarkets in some big cities have been using the technology at bag deposit areas.
Beijing Normal University debuted its first facial scanners in April and expanded their use in all dorms during the summer break. Currently, 70 percent of students have had their face recorded. A facial scan is required for new freshman students Alvaro Morata World Cup Jersey , according to the school.
By Xinhua Writer Sun Oumeng
NEW YORK, Sept. 20 (Xinhua) -- U.S. stocks wavered in a narrow range on Wednesday, with the Dow and S&P 500 closing at record highs, after the Federal Reserve announced that it will start to unwind its 4.5-trillion-U.S.-dollar balance sheet from October, a further step to end the loose monetary policy.
The Dow Jones Industrial Average added 41.79 points, or 0.19 percent, to 22 Spain World Cup Jerseys ,412.59. The S&P 500 inched up 1.59 points, or 0.06 percent, to 2,508.24.
Many analysts said the central bank's announcement wasn't very surprising, and financial markets seemed steady after the statement.
The financial market's reaction to the Fed's latest decision was relatively muted as the announcement was generally in line with Wall Street's expectations, Omair Sharif, senior U.S. Economist at Societe Generale Thiago Alcantara World Cup Jersey , told Xinhua Wednesday.
He also mentioned an October start date by the Fed has a few advantages. After the Fed's announcement, shares of many big banks were all up, lifting major indices.
"With markets already keenly aware of the Fed's plan on tapering its holdings going forward, starting the process in October allows Fed officials to put the program on auto-pilot and refocus squarely on the economic fundamentals, which will be increasingly necessary given that the data are likely to be choppy in the wake of the hurricanes," said Sharif.
The CBOE Volatility Index, widely considered the best gauge of fear in the market Sergio Rico World Cup Jersey , declined 3.93 percent to close at 9.78, on Wednesday.
"The risk for the FOMC (Federal Open Market Committee) in the balance sheet is in how it moves credit - particularly the Mortgage Backed Security market. The owning of U.S. Treasury Bonds is less problematic," Robert Savage, CEO of CC Track Solutions, told Xinhua.
"Both will have an effect on the market and it will be a de facto tightening of credit and lifting of rates but how much is unknown, so the plan is to do this slowly - which may be fine and likely will be ignored by the market until suddenly it matters - so my feeling is that this will matter in 2018 not now," Savage added.
Even though analysts concerned about market sensitivity Sergio Ramos World Cup Jersey , they saw continued momentum for equity valuations through further improved corporate earnings.
"We maintain our positive view on equities and have recently increased allocations given improving earnings per share, support from fiscal stimulus and Fed dovishness," Humberto Garcia, Head of Global Asset Allocation for Leumi Investment Services Inc., said in a note.
Meanwhile, the Fed also decided to leave interest rate changed this time, as investors widely expected. Now Sergio Busquets World Cup Jersey , traders shifted their focus to when will be the Fed's next move on hiking interest rate.
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