Along with Mountain America Credit Union, the Swedish biometrics company announced that it would launch a dual-interface (chip- and contactless-enabled) payment card. Mountain American Credit Union customers can enrol in the program online. As for point of sale merchants, there are no infrastructure changes, according to Bank Innovation. Once the fingerprint is enrolled, the user only needs to place the finger on the card to authenticate their identity and initiate payment.
Similarly, 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.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now