EXCLUSIVE – Biometrics is expected by many to make it big in the payments space this year. Just ask Fingerprints Card AB, which teamed up with Visa on a dual-interface biometric payment trial in the U.S.
Along with Mountain America Credit Union, the Swedish biometrics company Fingerprints announced yesterday that it would launch a dual-interface (chip- and contactless-enabled) payment card.
Mountain American Credit Union customers can enroll in the program online. As for point of sale merchants, there are no infrastructure changes. Once the fingerprint is enrolled, the user only needs to place the finger on the card to authenticate their identity and initiate payment.
In a statement emailed to Bank Innovation today, Thomas Rex, senior vice president, Business Line Smartcards at Fingerprints, said:
Collaboration is key in the smartcard and payments ecosystem. We are proud to be part of these first-of-its-kind market trials with Visa, the world’s leader in digital payments. This signifies that we are entering the next phase in the execution of our strategy for dual-interface biometric payment cards.
Similarly, last week Bank of Cyprus announced that it is letting its customers use their fingerprints instead of a PIN to authenticate payments. For this feature, the bank teamed up with digital security company Gemalto to issue a biometric EMV card (provided by Fingerprint Card) that uses fingerprint recognition to authenticate the cardholder.
Learn more about biometrics and digital payments at Bank Innovation 2018 https://www.bankinnovation.info/requestin San Francisco on March 5-6. Request your invitation here.Like This Post