Thursday, April 20, 2017

Mastercard Unveils Fingerprint Operated Credit Card

Mastercard today unveiled the next generation biometric card, combining chip technology with fingerprints to conveniently and safely cardholder’s identity for in-store purchases..
The new card builds on fingerprint scanning technology used for mobile payments today and can be used at EMV terminals worldwide.
How It Works: A cardholder enrolls their card by simply registering with their financial institution. Upon registration, their fingerprint is converted into an encrypted digital template that is stored on the card. The card is now ready to be used at any EMV card terminal globally.
When shopping and paying in-store, the biometric card works like any other chip card. The cardholder simply dips the card into a retailer’s terminal while placing their finger on the embedded sensor. The fingerprint is verified against the template and – if the biometrics match – the cardholder is successfully authenticated and the transaction can then be approved with the card never leaving the consumer’s hand.
Benefits: Authenticating a payment transaction biometrically – in this instance via a fingerprint – confirms in a very unique way that the person using the card is the genuine cardholder. Merchants can easily maximize the shopping experience delivered to their customers, as the card works with existing EMV card terminal infrastructure and does not require any new hardware or software upgrades. For issuers, the technology helps detect and prevent fraud, increase approval rates, reduce operational costs and foster customer loyalty. Additionally, a future version of the card will feature contactless technology, adding to the simplicity and convenience at checkout..Read more here

To place your order go to papernetusa.com

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