Gemalto and Bank of Cyprus have teamed up to offer biometric EMV (Europay, MasterCard, and Visa) cards for the latter’s customers.
The cards will use fingerprint recognition instead of a PIN code for both chip and contactless payments. The biometric sensor card is powered by the payment terminal and doesn’t require an embedded battery.
Using fingerprint recognition instead of a PIN code to authenticate the cardholder, the card is compatible with existing payment terminals already installed in the country.
When customers place their fingerprint on the sensor, a comparison is performed between the scanned fingerprint and the reference biometric data securely stored in the card.
"Bank of Cyprus customers will be first in the world to enjoy biometric convenience on a contactless payment card. Gemalto's biometric sensor payment card is designed to provide maximum security and data privacy" said Bertrand Knopf, Gemalto's executive vice president Banking and Payment.
"Using biometrics for contactless payments is a natural move as it fits in naturally with the gesture used to pay. It allows a better user experience, enabling higher transaction amounts without entering a PIN while benefiting from the convenience of contactless".
Source: Famagusta Gazette