Mastercard And Zwipe Announced Worlds First Biometric Contactless Payment Card

Contactless Payment Card

MasterCard and Zwipe announced the worlds first biometric contactless payment card with Integrated fingerprint sensor. Experts and companies hopes that it will replace signatures and PINs.

The card is the first of its kind to combine the security of biometric authentication with the speed and convenience of contactless payment.

The fingerprint data is stored in the card, when a user wants to make transactions, the fingerprint scanner in the card scans cardholders fingerprint and compares it with records stored in the cards memory. If correct , card allow contactless transactions instantaneously. Since this new card works with the energy from payment terminals, it doesn't need a battery source.

MasterCard Enterprise Security President Ajay Bhalla said "Our belief is that we should be able to identify ourselves without having to use passwords or PIN numbers. Biometric authentication can help us achieve this. However, our challenge is to ensure the technology offers robust security, simplicity of use and convenience for the customer. Zwipe’s first trial is a significant milestone and its results are very encouraging."

"Safety and security in everyday payments is at the heart of MasterCard’s business. We will continue to work with innovators, like Zwipe, to ensure we stay ahead of fraudsters and provide a seamless payment experience, as ultimately it is consumers who decide how they choose to pay," he added.

Kim Humborstad, founder and CEO of Zwipe said “Response to our pilot with Sparebanken DIN has been very positive. Cardholders love how easy the card is to use with the added security feature. We have also had exceptionally good reaction from retailers participating in the pilot.This pilot enabled the partners to gather valuable customer feedback, experience and best practice for the enrolment and deployment phase."

Morten Danielsen, Business Development Director, Sparebanken DIN said " We will offer biometric authentication and contactless communication for all our cards since it combines convenience and security for both our cardholders and merchants".

Here is the video about the Zwipe Mastercard :

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