And finally…next generation fingerprint sensor card revealed

The new cards have proven a success after tests in South with Pick n Pay, a leading supermarket retailer in the country, and Absa Bank, a subsidiary of Barclays Africa.

The new card builds on fingerprint scanning technology and can be used at payment terminals worldwide.

The card works after the holder registers with their financial institution and their fingerprint is converted into an encrypted digital template that is stored on the card.

When shopping and paying in-store, the biometric card works like any other chip card.

The cardholder simply dips the card into a retailer’s terminal while placing their finger on the embedded sensor. The fingerprint is verified against the template and – if the biometrics match – the cardholder is successfully authenticated and the transaction can then be approved with the card never leaving the consumer’s hand.

“Authenticating a payment transaction biometrically – in this instance via a fingerprint – confirms in a very unique way that the person using the card is the genuine cardholder”, Mastercard says.

The new card technology also requires no terminal infrastructure alterations nor any new hardware or software upgrades.

For issuers, the technology helps detect and prevent fraud, increase approval rates, reduce operational costs and foster customer loyalty.

A future version of the card is also expected to feature contactless technology.

“Consumers are increasingly experiencing the convenience and security of biometrics,” said Ajay Bhalla, president, enterprise risk and security at Mastercard. “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.”