Credit Cards Get The Finger
Mastercard has unveiled what it claims is a next-generation biometric credit card, combining chip technology with fingerprints to verify the cardholder’s identity for in-store purchases.
The new card builds on fingerprint scanning technology that is already used for mobile payments and can be used at EMV (Europay, Mastercard and Visa) terminals worldwide, Mastercard says.
Cardholders can enrol their card by registering with their financial institution. Upon registration, their fingerprint is converted into an encrypted digital template that is stored on the card, which can then be used at any EMV card terminal globally.
When paying in-store, the cardholder simply taps the card on a retailer’s terminal while placing his or her finger on the embedded sensor. The fingerprint is verified against the template and – if the biometrics match – the transaction is approved, with the card never leaving the consumer’s hand, Mastercard said,
Trials of the system are under way in South Africa. A full global rollout is expected later this year.