Chinese researchers at Tzekwan Technology unveil face-recognition ATM machine By Edward Chow For Mailonline Published: 13:02 GMT, 1 June 2015 | Updated: 13:48 GMT, 1 June 2015 Chinese engineers have developed a cash machine that uses facial features - instead of the traditional PIN number - to identify card owners.The device, which is jointly developed by Tsinghua University and Hangzhou-based Tzekwan Technology, is able to scan the users' faces to ensure they are the genuine holders of the bank account.The cutting-edge technology was unveiled during a press conference on Saturday, reported the People's Daily Online. Scroll down for video When a user inserts a bank card into the device, the built-in camera will immediately start scanning his or her facial features.A small window will pop up on the upper left corner of the screen to show the process.   'If the face of the user does not match the ID photo that is used to open the account, then the user will not be able to withdraw funds from the account,' says a bank spokesman to Shanghai-based Dragon TV. However, this also means only the owner of the card - not even their friends or family - will be able to get money from these cash machines.Gu Zikun, Chairman of Tzekwan Technology, claims the device is the world's first cash machine to be equipped with the facial recognition function.Gu says: 'Our facial recognition technology has passed the certification by authoritative industry experts and is authorised to be used in the financial services industry.'The cash machine also represents China's first independent intellectual property rights in financial security protection. Apart from the innovative recognition system, the device can also exchange Chinese Yuan to as many as 256 foreign currencies.China's central government has placed an emphasis on information and financial security. Gu Zikun says this new machine has passed its certification and will soon be used in the market place.