It would eliminate the need for customers to use a PIN number or signature to authorise payments.
Mastercard has teamed up with identity solutions firm Idemia and Singapore-based fintech MatchMove to pilot a biometric fingerprint card to authorise in-store payment transactions in Asia. The card, called F. Code Easy, is embedded with a sensor to allow customers to authorise a payment using their fingerprint, instead of a PIN number or signature. The fingerprint sensor will be powered by the energy from payment terminals. The payments giant said all biometric credentials will be stored on the card chip, rather than a central database, touting it would « enhance security and safety of contactless payments ». « As people make a permanent move to contactless transactions, the biometric card promises more choice and greater security for consumers, » Mastercard Asia Pacific executive president Matthew Driver said. « With Mastercard’s focus on digital commerce, this solution is a testament to the innovative partnerships Mastercard cultivates and its mission to provide fast, frictionless payment experiences that are protected at every point. » The pilot biometric card will be developed by Idemia and issued by MatchMove in Q4 to employees of all three companies involved in the project. Mastercard said participating employees could then use their cards for transactions and live demonstrations for customers. Read also: Amazon One will let you pay for purchases with nothing but a palm scan (TechRepublic) Mastercard debuted its fingerprint sensor-embedded credit card back in 2017. Trials were initially underway in South Africa at the time, with the payments giant touting it had planned for a global rollout by the end of that year. Credit card chips and SIM cards maker Gemalto then followed in Mastercard’s footsteps the year after, launching a contactless credit card with a fingerprint reader to Bank of Cyprus customers.
