• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

Jumio next-generation of digital ID verification.
  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

FPC Says the Key to Contactless Payment Card Momentum is Biometrics

May 14, 2018

“The implementation of fingerprint sensors into contactless cards allows cardholders to be authenticated as they perform transactions, even contactless ones, meaning the consumers don’t need to worry about losing their cards and thereby allowing some fraudster to go around buying things with the wave of a hand.”

FPC Says the Key to Contactless Payment Card Momentum is BiometricsBiometric technology is the key to keep the momentum going for contactless payment cards, argues Fingerprint Cards.

Writing on the company’s website, FPC Global Product Marketing Director Lina Andolf-Orup notes that contactless payments have made considerable progress in Europe, where they are “the continent’s ‘new normal’ way to pay”, and in Australia and Canada too, where they are used in a little over half of all payments. But concerns about security are stemming further growth: Contactless card fraud increased 150 percent between the first half of 2016 and the first half of 2017, Andolf-Orup says; and while that kind of fraud only represents a small fraction of overall payment card fraud, 38 percent of consumers cite security as “their primary objection to contactless cards.”

This is where biometric technology offers a solution. The implementation of fingerprint sensors into contactless cards allows cardholders to be authenticated as they perform transactions, even contactless ones, meaning the consumers don’t need to worry about losing their cards and thereby allowing some fraudster to go around buying things with the wave of a hand.

That’s why major financial services firms like Mastercard and Visa are aggressively pursuing the technology, with the latter actively trialing biometric cards featuring FPC technology. These companies and others appear to be aiming to deliver biometric payment cards to the mass market as early as this year, so Andolf-Orup may have very different fraud statistics for contactless payments in 2019.

(Originally posted on FindBiometrics)

Filed Under: Featured, Industry News

Related News & Articles

Samsung Pushes Security Patch for Galaxy Note 8, S9, and S9+ Smartphones

New Qualcomm Accelerator Provides Small Businesses with Remote Working Tools

MWC Shanghai: NTT Docomo Can Serve as Example to Industry: CEO

Primary Sidebar

Premier Partners

Read the Latest Year in Review Analysis:

BIO-key One plus One

Tweets

Aware ABIS webinar

Sponsored Links

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi's product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/
BIO-key One plus One

Events

View All Events

IDEMIA big box

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives

Follow Us

Copyright © 2021 MobileIDWorld