Mastercard is trying to make your credit card transactions even more secure. How? By eliminating the hassle of PIN. Yes, Mastercard has unveiled a new credit card with a fingerprint sensor on it.
Mastercard, one of the biggest Financial services company has already successfully tested these new credit card in South Africa. they are planning to expand it to other parts of the world like Europe and Asia-pacific. These new credit cards will work with the existing credit card readers but instead of typing a pin you need to place your finger on the Biometric sensor on the card.
Recently we have seen the rise of mobile payments thanks to the ease of transaction offered by mobile wallets. Major banks like Axis Bank has launched fingerprint authentication for its users with iPhone 5s or above to conduct transactions from their mobile phones.
Mastercard’s attempt to put a fingerprint scanner on your credit card is to make your transactions more secure and hassle free. The new Credit card is no thicker than your existing credit card.
In the press release, Mastercard’s chief of security Ajay Bhalla said “Consumers are increasingly experiencing the convenience and security of biometrics, whether unlocking a smartphone or shopping online, the fingerprint is helping to deliver additional convenience and security. It’s not something that can be taken or replicated and will help our cardholders get on with their lives knowing their payments are protected.”
Although Mr.Bhalla’s statement “It’s not something that can be taken or replicated” is something we don’t agree as it is proven previously that fingerprints can be replicated. But it is quite hard to steal someone’s fingerprint without them knowing.
The new fingerprint enabled credit card surely will help those who tend to forget their PIN quite often. You can get the new credit card by visiting your bank and registering your fingerprints.Upon registration, their fingerprint is converted into an encrypted digital template that is stored on the card. Users can save up to 2 fingerprints.