A new contactless payment card introduced this week by MasterCard and Zwipe uses a fingerprint sensor to authorize transactions.
The new Zwipe MasterCard payment card basically uses cardholder fingerprint data stored directly in the card - not in an external database - for biometric authentication, which replaces the PIN entry. After activation by a simple fingerprint scan, the card can be used to make contactless payments.
“Our belief is that we should be able to identify ourselves without having to use passwords or PIN numbers. 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,” said Ajay Bhalla, President of Enterprise Security Solutions at MasterCard.
Zwipe and MasterCard said it is compatible with existing infrastructure, including chip and contactless terminals, making it easy for shoppers to use the card and retailers to integrate it in their systems.
In a video produced by the company, a man is shown holding the card with his thumb pressing the fingerprint sensor in the card and swiping it in a chip terminal to pay for a purchase.
"There is no transaction limit," he said. "Forget your PIN codes, forget your passwords."