To reduce the risk of theft, Chinese researchers have successfully developed the world's first automated teller machine (ATM) with facial recognition technology, People's Daily reported on Monday.

The new machine was jointly developed by Tsinghua University and Tzekwan Technology, a Hangzhou firm in eastern China's Zhejiang province.

It is expected to connect with banks and public security networks and allows only cardholders to withdraw money, even if someone else knows the password.

In addition to facial recognition technology, the machine outperforms its counterparts in banknote handling, counterfeit-bill recognition and more, according to People's Daily.

The equipment has already passed certification and will soon be available for sale.

This article was edited and translated from 《全球首台人脸识别ATM机在中国问世》, source: People's Daily