Touch and go payment
By Teamspirit on Wednesday, 19 April 2017
In the latest development for biometric authentication systems, Mastercard has revealed plans to launch a credit card incorporating a fingerprint sensor this week following two successful trials in South Africa.
The technology works in the same way as you might use your thumb for mobile phone logins, simply by holding a finger over the credit card sensor when making a purchase.
Mobile banking is increasingly moving towards biometric authentication, investigating retina scanning and voice analysis as well as fingerprint identification on the basis that it is a more convenient and secure proof of ID than passwords. Only this week, Lloyds also unveiled plans to partner with Microsoft on fingerprint and facial recognition technology for online banking logins.
However of course with such major players exploring the new identification systems, many are keen to highlight the potential risks associated with them. For example although you may struggle to lose a fingerprint in the same way that it is all too easy to forget a 14 character password, everyone knows not to share login details with any other individuals – whereas all it takes to replicate a fingerprint is an item you recently touched.
Reservations aside, the developments certainly provide a stronger alternative to current security features and we look forward to witnessing how biometric verification is rolled out across in-store and online purchases - Mastercard is planning to conduct further trials over the next few months in Europe and Asia Pacific.