Fingerprints Makes Case for Biometric Cards to Financial Services Firms – and Consumers

As real-world trials of biometric payment cards continue to proliferate in advance of large-scale launches, Fingerprint Cards is turning to the PR front to get consumers – and clients in the financial services sector – ready for the first wave. The company has issued a new eBook explaining the technology, and has published a blog post offering a general outline.

In its blog post, Fingerprints highlighted a few key components of its biometric payment card solution. One is its Secure Element, the digital chip in which a user’s registered fingerprint biometrics are stored and matched during the authentication process. Another is its contactless functionality, allowing customers to make purchases just by tapping the card against a payment terminal. But the most important component, of course, is its fingerprint sensor, which scans the user’s finger during each transaction to ensure that it’s the proper cardholder making a given purchase.

Fingerprints also emphasized its solution’s compatibility with global payment schemes thanks to its adherence to EMV and ISO standards. And the company noted that will this technology offers greater security and compelling convenience for consumers, it also offers important benefits to banks and merchants by reducing fraud and eliminating the need for payment caps for contactless transactions.

It’s a solid case for biometric payment cards, and the fact that Fingerprints is now making it to banks, merchants, and the public indicates how close we are to large-scale launches, which the company’s CEO predicted would arrive in 2020 in Fingerprint Cards’ recent Q3 report.