INDUSTRY

What are the benefits to the Merchant of our biometric smart cards for payments?

Biometric fingerprint cards reduce barriers to payments. About half of card holders have abandoned an online purchase because they couldn’t remember their password. In the bricks and mortar world, a fingerprint cannot be forgotten.

Merchants also benefit as biometric fingerprint cards can be used at any EMV terminal, so no additional investment is required.

What are the benefits to the Issuers of our biometric smart cards for payments?

There are multiple benefits including reducing fraud, reducing cost, boosting accountability, delivering brand differentiation and delighting consumers. You can find out more here.

What are the benefits to the Payment Schemes of our biometric smart cards for payments?

There are multiple benefits including reducing fraud, reducing cost, boosting accountability, delivering brand differentiation and delighting consumers. You can find out more here.

Will the payment schemes be liable for fraudulent transactions?

Liability is handled in different regions differently and will not change with the emergence of biometrics cards. However, biometric smart cards will decrease overall payment fraud.

Why are a high number of false rejects not acceptable?

A high number of false rejects simply will not suffice when it comes to day-to-day consumer card usage. Failed matches when trying to authenticate a payment in store would not just prove inconvenient for consumers but could also cause significant delays for the retailer taking the payment. In an age where consumers have become accustomed to seamless payment processes – multiple failed attempts to match a fingerprint are not an option and could hinder the mass adoption of biometric fingerprint payment cards.

Will mobile payments displace cards?

Although mobile wallets have been around for years there is huge growth in the number of smart cards issued every year. Data also suggests that adoption of mobile wallets have been slow as consumers are very satisfied with using their cards. We expect card payments to be around for many years to come and that mobile payments and cards will coexist at the expense of cash.

Will other biometric modalities replace fingerprint sensors in cards?

When using a card, you naturally pinch it with your fingers, so fingerprint sensors are the natural biometric from a user perspective. Overall the card environment makes fingerprints ideal and due to size, cost, current consumption, etc. we don’t expect other biometrics to be embedded into cards.

Will a different PoS be required to use a biometric smart card for payments?

No, our solutions work with the current PoS infrastructure.