New MasterCard To Combine Biometric Technology With NFC Payments

Chuck Bednar for redOrbit.com – Your Universe Online
MasterCard is joining forces with Norwegian biometric tech firm Zwipe to create a new type of credit card that combines contactless payments with an integrated fingerprint sensor, various media outlets reported on Friday.
According to Edgar Alvarez of Engadget, the new Zwipe MasterCard is a charge plate that contains built-in fingerprint sensors and uses near-field communications (NFC). In addition, Alvarez said that it is highly secure because the data is stored directly on a card instead of an external database, and because it uses a thumbprint to verify your identity at the point-of-sale.
Because of the security measures, only the card’s owner will be able to use it, Digital Spy’s Mark Langshaw explained. The launch follows a successful trial of a prototype version of the Zwipe Mastercard, which is slightly thicker than a conventional charge card due to the built-in power cell, in association with Norway’s Sparebanken DIN.
In a statement, Zwipe called it the first card of its kind to combine “the security of biometric authentication with the speed and convenience of contactless payment… After activation by a simple fingerprint scan, the Zwipe MasterCard card can be used to make contactless payments.”

“The biometric authentication replaces the PIN entry, thus enabling cardholders to make payments of any amount, unlike other contactless payment cards on the market,” the company added. “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.”
CNET UK’s Rich Trenholm explained that contactless cards typically limit how large of a purchase a customer can make (£20 or around $32 in the UK), but because of the additional security measured in the new card, Zwipe is not instituting any such limits at this point. However, Trenholm noted that the company could opt to change that when the card becomes available to the public.
“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,” said Ajay Bhalla, President of Enterprise Security Solutions at MasterCard. “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,” Bhalla added.
“Feedback from our pilot with Sparebanken DIN has been very positive. Cardholders love how easy the card is to use with the added security feature,” noted Kim Humborstad, founder and CEO of Zwipe. “We have also had exceptionally good feedback 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.”

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