Eyal Fisher Preciate
Israeli startup Preciate can help your business with sales through the use of facial recognition technology. Preciate specializes in integrating facial recognition technology for retail and related brands. The company focuses on both – integrate facial recognition with loyalty clubs and “Pay by Face” technology.
Founded in 2018 by Avi Naor and Eyal Fisher, Preciate offers the Pay by Face payments solution. This one is self-explanatory. People merely upload a selfie and the system provides their image to the various companies. This allows them to know exactly who they are working with in order to tailor their services for the specific customer. They also will know that they have the right person when submitting a charge.
Consumers get a big advantage out of this as well. They will no longer need to go through all of the long stages, filling out the payment form, looking for the verification code on the back of a credit card and hoping that they did not make a typo requiring them to start the process all over again. For the user, their face is their charge card and their billing information is saved in the system.
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They also have a customer loyalty program. This provides shopper identification, statistics, and preferences in real time as the shopper enters a store. Preciate boasts that its platform provides “unique insights and opportunities to drive omni-channel loyalty with exclusive in-store experiences.”
Preciate’s CEO Eyal Fisher told Calcalist, “The most important person in the store is the salesperson and they are being told to go and sell products even though they aren’t given the tools to do so, with all the data stuck behind the scenes.”
So Fisher explained that with his tech a store will know who it is walking in their front door, whether he is a big customer who owns his own business, what he usually buys and what his interests are.
Fisher explained that retail stores should be identifying the customer, “as they enter the shop at the beginning of their customer journey and not at the end, and make special offers at that stage that will encourage them to extend their membership.”
But will consumers want to be under such close scrutiny everywhere they go? It is one thing to offer an easier way to pay, but another to have stores not only film you when you enter, but also have big brother knowing all about you. A lot of people find the idea of all this to be creepy. Consumers would want to be able to opt out of some of the aspects of Preciate’s service.
