Biometric payment cards from Mastercard and Idemia to be trialed in Q4
The card will be offered under the product name F.CODE Easy, after Idemia’s payment card solution. The companies believe the F.CODE Easy will provide the seamless and intuitive authentication experience people are used to from smartphones to the smart card form factor. It also eliminates the need for people to provide a PIN or signature, thereby reducing public touch points.
MatchMove will issue the biometric cards for a pilot in the fourth quarter of 2020, with employees of all three companies using the cards to complete transactions and perform live demonstrations for customers. To support the customer onboarding process, Idemia will provide a full set of services to enable users to enroll their biometrics at home.
“As people make a permanent move to contactless transactions, the biometric card promises more choice and greater security for consumers,” says Matthew Driver, executive vice president of Services, Asia Pacific, Mastercard. “With Mastercard’s focus on digital commerce, this solution is a testament to the innovative partnerships Mastercard cultivates and its mission to provide fast, frictionless payment experiences that are protected at every point.”
Mastercard President of Cyber and Intelligence Solutions Ajay Bhalla wrote a guest post for Biometric Update earlier this year on the evolution of biometrics, including in payment cards.
F.CODE Easy is developed by Idemia in line with Mastercard’s technical and design specifications and certified by Mastercard to ISO standards to ensure privacy and security with on-card storage of biometric data.
Mastercard cites its own research from June which shows that nearly 6 of 10 globally say the shift towards digital payments will persist, and even higher numbers in the Asia-Pacific region believe contactless payments is permanent.
“We are proud to celebrate this milestone on our journey to shaping the future of payments into one powered by biometrics,” states Idemia Senior Vice President of Financial Institutions Asia Pacific Vincent Mouret. “We are delighted to partner with Mastercard and MatchMove to launch F.CODE Easy in Asia and we look forward to continuing to work together to provide end-to-end security for fintechs.”
F.CODE payment cards launched previously have been made with FPC1300-series fingerprint sensors from Fingerprint Cards. Since then, Idemia and Idex Biometrics have reached a deal to supply fingerprint sensors for F.CODE cards.
“We are excited to partner with IDEMIA and Mastercard to pioneer cutting-edge solutions that empower our customers to make safe and secure payments,” comments Amar Abrol, CCO at MatchMove. “By leveraging F.CODE Easy, we can enable multiple use cases for our clients who in turn create greater value and utility for their customers, employees, suppliers and partners. We look forward to working together and introducing new innovative solutions to the market.”
MatchMove is one of 21 applicants for digital banking licenses in Singapore.