While using our cards for payment at stores, we often feel uncomfortable to type our passwords as theres always a chance that someone is trying to steal our password. Well, Mastercard is coming up with a solution for this in the form of Biometric Card or a card with a Fingerprint Scanner embedded in it.
In case you’re curious about how this whole process will work, theres an EVM chip on the card that will store an encrypted digital template of your fingerprint.
So, after this technology becomes available, the password risks will decrease a lot. When you’re using your card, you just need to insert the card & hold your Finger on the scanner. Your data will be checked & verified after that your payment is done. Leaving an example below,
We think that, this technology will make card payments a lot more secure. You can store upto two fingerprints on your card. But, those fingerprints must be your own. So, if you want someone to use your card, thay can’t do that with the Biometric Fingerprint Scanner.
This technology is currently being tested in South Africa & it may hit the rest of the world during late 2017. After the Banks are good to go with it, we’ll have the access to these new & more secure Biometric Cards.