Biometric smart cards
Biometric smart cards
Any interesting findings regarding biometric payment cards, i.e. smart cards with embedded fingerprint sensor? Will they ever happen? If so, will you use them?
Biometric smartcard has a great value proposition. for so many years, there was not much innovative application on a smartcard. it’s time to show innovations like display cards, Fingerprint cards, dynamic CVV cards. The cost of Semicon components gone down (the current chip price hike situation looks temporary 🙂 ) and will drive the adaption of the new innovative smartcards.
Card manufacturers require investment in the mass production of those cards. at this stage, the industry is not capable to produce in large quantities.
There are some new types of cards which are going to be soon launched in the market. Perhaps, not biometric. See below link for more information.
https://fuzecard.com/
Technically there are indeed already several solutions.
Now to make it happen i.e get it deployed as a new used product will need to keep deployment and enrollment simple and secure.
Biometric payment cards are really interesting for POS and very much interested to have one. But few points needs to get clarified like:
- For sure the cost of the card will be much higher than normal EMV cards. Will banks afford this and issue cards to customer for free?
- How is it going to be used in ATMs where cards are fully getting inserted in the ATMs? May be all ATMs need to be updated with biometric sensors so that no need to use PIN?
Another important thing I think is how customers are seeing this biometric payment card – As a security enhancement or as fancy feature! with the possible additional cost
Again if we start implementing biometric finger print access in ATMs, consumer will always have hesitation and strong question about their identity’s confidentiality and how bank will maintain so and so…..
Next, if we go ahead with the same tech. What will be the alternative in pandemics like covid. So we need to look for the alternatives tooo
Yes, smart card with inbuilt biometric sensor is next trend in payment. Some organization already have solutions for this. Most of the companies using battery powered biometric sensor. But some companies are working to power both biometric and smart card controller with RF power, no battery is required (and succeeded). Yes, we want to use such products as it provides 2 factor authentication without manually entering PIN for my transactions and limit issue for ‘PIN not required’. There are few companies already started this in the market with leading payment schemes (VISA, Mastercard) approval.
Assume that people are still afraid to use this since it is dealing with biometric data. Here is an interesting factor sheet from Thales
Yes, I agree, cost will for sure be a driving factor, but perhaps banks will “share” some of the increased cost with its customers. Will be interesting to follow. How about registering your fingerprint? I have watched a few videos from Thales where they seem to suggest using a ‘sleeve’ for home enrolment. Makes sense since I personally would not be interested to be forced to a bank branch office to register my fingerprint. But then again, sending a sleeve to each card holder will drive cost even more.