Gemalto to supply Bank of Cyprus with biometric payment cards
The Bank of Cyprus has selected Gemalto to supply EMV biometric dual interface payment cards for both chip and contactless payments.
The fingerprint sensor card is powered by the payment terminal and does not require an embedded battery. The biometric personalization and card activation process is designed to avoid transmission of biometric data over the air to ensure that users’ data privacy is protected. The fingerprint template captured during the enrollment process is stored only on the card.
“Gemalto’s biometric sensor payment card is designed to provide maximum security and data privacy,” said Bertrand Knopf, Gemalto’s executive vice president Banking and Payment. “Using biometrics for contactless payments is a natural move as it fits in naturally with the gesture used to pay.”
In November, ABI Research forecasted that fingerprint embedded payment cards will experience a significant growth over the next years reaching 160 million shipments by 2022 with a 5-year CAGR of approximately 400 percent.