MasterCard Is Testing Bank Cards With Biometric Fingerprint Sensors
The payment provider is forgoing traditional PIN numbers and developing cards with built-in fingerprint scanners
Security has become an increasing concern for banks and their customers. To counteract this, MasterCard has developed cards with an additional layer of security—a biometric fingerprint sensor.
The cards work by placing a finger on an in-built reader and subsequently a scanner authenticates payments once it’s entered into the pin port on the payment system. However, in order for the card to work, the user must register their fingerprint at their local bank, which is then placed in an encrypted digital template so that personal information is protected.
“Consumers are increasingly experiencing the convenience and security of biometrics. Whether unlocking a smartphone or shopping online, the fingerprint is helping to deliver additional convenience and security. It’s not something that can be taken or replicated and will help our cardholders get on with their lives knowing their payments are protected,” said. Ajay Bhalla, MasterCard President of Enterprise Risk and Security.
There’s no timeline yet as to when or if these scanners will be integrated into MasterCard’s line-up.
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Healey changes the way people shop by leveraging technology to provide intuitive, personalized experiences for consumers. As CEO and Co-Founder of Oak Labs Inc., Healey leads development in interactive, technology-equipped retail experience. Prior to founding Oak Labs Inc., Healey was an Innovation Forum Board Member for fashion retailer Orvis Co. With expertise in retail strategy and product management, Healey is pioneering the future of brick and mortar retail.