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First Bio Pay Shop Opens in South Korea

The entrance to the convenience korean store was similar to the subway ticket gate! Through the technology news found here can reveal everything about this “Bio Pay” Convenience store. At the checkout counter, instead of the employee, a ‘360-degree auto-scan Bio Pay counter’ greeted guests. Pick up the item and place it on the cashier conveyor belt. No complicated calculations are necessary to take out the cards or put cash in. When the customers put the palm only on the registered palm recognizer, the calculation was completed and the receipt was spit out. This must be very much exciting technology news that you would have read recently over online, ain’t it?

Korea Seven, which operates Lotte Group convenience store, unveiled its unenrolled store ‘7-Eleven Signature’ on the 31st floor of Lotte World Tower in Songpa-gu, Seoul. There is no staff in charge at this Bio Pay store. Seven-Eleven applied Lotte Information Communication’s ‘360-degree automatic scanning cash register’ and Lotte Card’s palm authentication payment method ‘Bio Pay’ for unattended settlement.

– Introduced unmanned payment using new type bio metric recognition for the first time in the distribution industry … No one is involved for doing calculations.

In order to enter this Bio Pay store, you must register in the Lotte Card booth in front of the store. This is to prevent theft as it is an unattended Bio Pay shop with no full-time workers.

7-Eleven officials reveals the technology news of this store says that the, “The Bio Pay store is located in the office area of Lotte World Tower, so you can register.” Currently, only Lotte Card users can register their palms.

“HandPay is a kind of Bio Pay that can be paid for as part of a person’s body, and it is the first commercially available in the world,” said Lotte Card. “Bio Pay” is easier to settle than iris recognition, It is more secure than easy fingerprint recognition. ”

In the past, the price tag of the shop that had to be reprinted every time a product was changed was replaced by an electronic LED. In addition to basic information such as product name and selling price, the electronic price list is filled with NFC and QR codes, so you can find discount coupons and detailed product information through mobile apps. The cigarette is sold through ‘smart safe cigarette vending machine’. Because it can be purchased in this Bio Pay store only through adult authentication, it is possible to block the purchase of tobacco from the youth.

There is no cashier, but there are workers who fill inventory and maintain store cleanliness. 7-Eleven officials said, “Existing convenience store employees spent 64.7% of their time on simple calculations, but I expect unattended settlement stores to focus on store management and services such as store cleanliness, product ordering and display.”

– Shin Dong-Bin’s 4th Industrial Revolution Will Reflect … Starting Unmanned Shops

The Lotte World Tower 31st floor, which has the 7-Eleven signature, is located in the office area. The store is operated by office workers who have been in Lotte World Tower. An official of Seven-Eleven said, “We will pilot the Lotte employees to compensate for any problems that may arise in the future.”

As this Bio Pay store is a test store, facilities for collecting big data were prepared. The 360-degree auto-scan counter is equipped with an object recognition solution. It is an artificial intelligence that recognizes the volume of each product by itself and automatically recognizes and learns errors when products are overlapped. Smart CCTV installed at four corners of this Bio Pay store not only monitors theft and accidents, but also provides marketing information such as the residence time of customers.

The opening of the 7-Eleven Signature is said to reflect the will of Shin Dong-bin, Lotte Group chairman. Shin emphasized the importance of the Fourth Industrial Revolution and ordered distribution innovation that combines information and communication technologies such as artificial intelligence (AI). As a result, Lotte put all of its competencies in group affiliates such as Lotte Card, Lotte Information & Communications as well as Korea Seven into this Bio Pay store opening.

The event was attended by representatives of Korea Seven, Kim Chang-kwon, Lotte Card, Maengdyeong Lotte Information Communication, Park Hyun-chul, Lotte World representative, Park Young-soo,

“7-Eleven Signature is a smart convenience store equipped with IT technology and systems that are appropriate for the 4th Industrial Revolution era, and I hope to make a breakthrough in the distribution industry using Bio Pay,” said Chung Seung-in, CEO of Korea Seven

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