Biometric card technology to be introduced by Tag Systems and Fingerprint Cards AB (Fingerprints) to the market
In a groundbreaking move, Mastercard has partnered with global card manufacturer Tag Systems to introduce biometric payment cards. These innovative cards are set to revolutionise the payment industry, offering improved power efficiency compared to earlier versions.
The biometric cards are designed to enhance convenience and security for cardholders. They incorporate advanced encryption and privacy layers, ensuring secure transactions. The sensor module at the heart of these cards features Fingerprint Cards' second-generation T-Shape® (T2) sensor, delivering increased image quality and processing speed with improved power efficiency.
The partnership also sees the integration of STMicroelectronics' STPay-Topaz-Bio solution, further enhancing the card's security. This combination of Fingerprints' technology with STMicroelectronics' solution aims to provide a seamless and secure payment experience.
Tag Systems' biometric Mastercard payment cards have already been certified by Mastercard, signifying their compliance with the highest standards of security and performance. The company is currently providing these cards to banks and fintechs, including Solarisbank, tomorrow, and BISON, enabling secure biometric authentication for card payments.
Roger Carrico, Vice President of Sales & Business development, Payment & Access at Fingerprints, commented on the partnership, stating that Tag Systems is a partner that likes to lead the way with high-end payment services. He further added that the biometric cards are expected to drive revenues for the issuing banks and fintechs by providing convenient, hygienic, and secure transactions for all purchases.
This development offers banks and fintechs an opportunity to differentiate, retain, and acquire customers. By adopting these biometric payment cards, they can take advantage of the latest technologies from both Fingerprints and STMicroelectronics, ensuring they stay at the forefront of the evolving payment industry. The biometric cards are set to be issued in 2022.
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