Mastercard has partnered Zwipe, fingerprint authentication technology company, to launch world’s first credit card that integrates biometrics with contactless payment technology. The companies had run a pilot in Norway to test the viability of the card and that came out to be successful. The joint move has been made to provide a fast, convenient payment method that doesn’t compromise on security.
The Zwipe MasterCard payment card is a fingerprint authenticated contactless payment card. It includes an integrated biometric sensor and the Zwipe secure biometric authentication technology that holds the cardholder’s biometric data. It contains an EMV certified secure element and MasterCard’s contactless application.
Shown Above: Ajay Bhalla, President of Enterprise Security Solutions, MasterCard
Speaking about the launch, Ajay Bhalla, President of Enterprise Security Solutions at MasterCard commented “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.”
Below is a video demonstrating how it works.
Zwipe is now working on the next generation of its card that will be the same format as a standard card and designed to work with all payment terminals for release in 2015. This new card will harvest energy from the payment terminals without the need for a battery.