MasterCard has announced their very own fingerprint sensor credit cards.
After the recent bouts of credit card theft and merchant hacking, companies have been racing to find an alternative solution. To date there have been ventures such as the Bitcoin, Paypal and even Apple Pay. But now, Mastercard is also joining the club by releasing their own Fingerprint activated credit card.
Apple Pay is preparing to be launched next week however, in the mean time Mastercard has also been working on their own alternative solution- a fingerprint sensor.
Mastercard, one of the leading credit card merchants in the world partnered with Zwipe, a biometrics firm, to develop a card that is activated using a fingerprint.
To use the card, users just have to place their thumb print over the sensor and tap their card towards the payment terminal. The fingerprint acts as a safer substitute to a signature and a pin.
The fingerprint data is stored on the card using an EMV certified secure element, and without the user present, no transaction can take place.
“Safety and security in everyday payments is at the heart of MasterCards 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 the consumer who decide how they choose to pay,” stated Ajay Bhalla, president of Enterprise Security Solutions at MasterCard.
The card will look relatively identical to all other credit cards and is expected to be introduced next year to MasterCard customers.