Precise Biometrics, Fingerprint and Visa team up on biometric card
15 January 2018 19:35 GMT

Sweden's Precise Biometrics’ algorithm solution and a Fingerprint Cards fingerprint sensor are using in the first market trial of dual-interface biometric payment cards in the USA, which is carried out by Visa and Mountain America Credit Union.

The payment card, which can be used for contact and contactless payments (dual-interface), improves the convenience for consumers as there is no need to remember PIN codes to authenticate payments.

The authentication is done by placing the finger on the card, making it easier and faster to make payments, benefitting both retailers and consumers. The biometric card can be used in the existing retail infrastructure. The card will be tested among US customers, commencing early 2018 to assess the cardholder experience and the technology of the biometric cards in different retail environments.

“I am pleased that we are part of the first US market trials for biometric dual-interface payment cards from a global provider of payments solutions. The interest in biometric payment cards is high and Precise Biometrics is at the forefront of this area”, said Torgny Hellström, Chairman of the Board of Directors at Precise Biometrics.

“The world is quickly moving toward a future that will be free of passwords, as consumers realize how biometric technologies can make their lives easier,” said Jack Forestell, head of global merchant solutions, Visa Inc. “As electronic payments expand dramatically around the world, Visa is committed to developing and investing in emerging capabilities that deliver a better, more secure payment experience.”

When a cardholder places their finger on the sensor, a comparison is performed between the fingerprint and the previously enrolled fingerprint template securely stored in the card in order to authenticate the transaction. Green and red lights are integrated into the card to indicate a successful or unsuccessful match.

In a recent survey of 1,000 Americans about perceptions of biometric authentication, Visa found that consumers continue to have a strong interest in new biometric technologies. Highlights from the survey include:

86 percent of consumers are interested in using biometrics to verify identity or to make payments, and more than 65 percent of consumers are already familiar with biometrics.
Consumers were most familiar with fingerprint recognition, with 30 percent having used it once or twice and another 35 percent using it regularly.

Of all the biometric authentication techniques queried, fingerprint recognition ranked the highest (50 percent) in terms of desired payment authentication method for in-store usage.

“Mountain America Credit Union is proud to be an early partner with Visa and other industry leaders on this innovative biometric card solution,” said Matt Farrow, assistant vice president of payment and card services, Mountain America. “We are excited to explore the enhanced security benefits that biometrics can provide to credit and debit card transactions, while preserving focus on convenience for consumers.”