Master card brings you the latest Fingerprint Credit Cards
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Mastercard has introduced a credit card which involves an integrated fingerprint scanner that comes with a biometric zone enabling storage of fingerprints there by offering more conveniencein authenticating purchases at super markets and retail stores as well as in terms of providing more security in fraud preventing aspects in respect of its card holders.
These cards stores two finger prints and features an embedded sensor enabling you towards authorizing payments setting aside any aspects of signing or having to use a PIN. In terms of activating this new found revolutionary aspect you first need to register your fingerprints at your bank where by, the relevant information will be transformed into a ‘encrypted digital template’ which will be stored on the card.
These new innovative cards are just as thin as the existing credit cards and will work with current chip-and-PIN readers, enabling you to authenticate purchases by placing your finger on the integrated biometric sensor that matches the finger print on the card.Once the owner of the shop or the sales assistant hold the card against the fingerprint reader enabling the required data to be fed into the computer system and once you place your finger on the integrated biometric sensor; provided your finger print tallies with the finger print on the card your transaction will be successful.
According to the current reports of an estimate in general, the correct guessing of a PIN number stands at a ratio of 1 of 10000 attempts letting it remain as not the safest method. Thus in order to overcome these draw backs the chip was added later, enabling detection of a fraud card where the PIN numberalsoneeds to be added to the payment related computer there by ensuring of high security standards. Yet nevertheless forged fingerprint replicas stands only at a chance of 1 in 50000 attempts it was evidently proven, which is by far safer than the credit cards that are currently being used.
These cards are thought to be the first in including both the digital template of the user’s fingerprint also the sensor required in reading the fingerprints at the point of sale. Previous biometric payment cards only worked when used in conjunction with a separate fingerprint scanner that limited their usefulness, as only stores with the correct equipment could accept them. And having the data along with the scanner on the same card means that they should be accepted anywhere a normal chip and PIN payment card can be used although the Biometric verificationcan only be used for in-store purchases. On line and other socalled ‘card not present’ transactions will still require further security measures.
Mastercard’s Chief of Safety & Security Ajay Bhalla, said that the fingerprint technology would help “In delivering additional convenience as well as Security and also it is not something that can be taken or replicated. However fingerprint sensors can be compromised”. He also told the Telegraph Newspaper published in London that the “Master Card Company is on an eternal strive, forging ahead towards innovation in safeguarding their customers from credit card cheaters thus,‘fingerprint recognizing technology’ was indeed something quite very positiveon a journey towards their mission”. He said that it is undoubtedly one of the best credit card fraud preventing methods in the world enabling recognition of one’s identificationthrough thumb prints, what better way than through one’s thumb impression that truly proves individuality. Yet however goes on to say that “it does not mean that PIN and Chip cards that are currently being used are unsafe!”
Mastercard is currently trying out these cards in South Africa they have also stated that additional trials will be conducted in the Asia Pacific region as well as at selected markets in Europe in months to come.
A wide rollout is geared towards the end of the year although customers in the United States will have to have their hopes up until early 2018 in getting their fingers on this newly found revolutionary Biometric Card!
By Nilanthi Wickramasinghe