Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Alibaba Group Holding Ltd (BABA) Face Payment’s Problem Will Be Traction: James Wester

Alibaba Group Holding Ltd (NYSE:BABA) may be looking to the future – more specifically, enabling payments with users’ faces – but the technology won’t easily catch on if this analyst is to be believed.

In a report by Josh Lipton for CNBC, James Wester, IDC Global Payments Research Director, warns that Alibaba Group Holding Ltd (NYSE:BABA) faces a tough challenge in acclimatizing people to paying with their facial features.

“It has taken some time to get [people] comfortable with the idea of having their fingerprints scanned so I’m not certain that consumers are going to want to have their eyeballs scanned by the phones just yet,” Wester is quoted in the report telling CNBC.

Alibaba Group Holding Ltd (NYSE:BABA)’s founder and CEO, billionaire James Ma, recently demonstrated a digital payment system that makes user of unique biometric features of people’s faces for verification and identification.

Though Ma demonstrated the technology at the CeBIT conference, however, he did not take questions afterwards or detailed just how Alibaba Group Holding Ltd (NYSE:BABA) would be implementing the technology. It was revealed then, nonetheless, that the Chinese electronic commerce giant was working on the technology with affiliate company Ant Financial, a firm which it hopes to help go public in 2017.

Alibaba, Face, is BABA a good stock to buy, biometric payment, electronic payment, digital payment, mobile payment, NYSE:BABA

Meanwhile, Josh Lipton said during his report that many in the technology sector believe that biometric identification for mobile payments and security holds big promise going forward.

“Remember the mobile payments market will triple to $142 billion by 2019, according to analysts at Forester [Research]. Of course, when you make payments with your phone, you are relying often on your password [and] your username and there are questions about [the] convenience and security of that, and that is why you see tech companies moving into biometrics,” Lipton said.

The CNBC reporter notes that Apple Inc. (NASDAQ:AAPL) is one of the biggest players in this field with its Apple Pay electronic payment platform. The consumer electronics giant also has Touch ID with its devices with a fingerprint scanner.

Rob Citrone’s Discovery Capital Management owned about 9.25 million Alibaba Group Holding Ltd (NYSE:BABA) shares by the end of 2014.

I just made 84% in 4 daysI Just Made 84% in 4 Days By Blindly Following This Hedge Fund

I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said ‘I lost money by EXACTLY following your stock picks’. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!