FPC, Idex, Crédit Agricole progress on biometric payment cards issuance
Steps towards mass adoption of biometric payment cards can be seen in a new approval for cards made with Fingerprint Cards’ technology, and French bank Crédit Agricole de Lorraine starting the roll-out of biometric Gold Mastercard and World Elite Mastercard deferred debit cards. Idex Biometrics has partnered with Verisoft to accelerate the adoption of biometric smart cards, and FPC has also published an interview with Head of Payment & Access Michel Roig providing insight into consumer preferences for payment types.
Fingerprint Cards manufacturing partner approved by Mastercard
Morix and Fingerprint Cards partnered just under a year ago to integrate the latter’s T-Shape module and software, and the Letter of Approval from Mastercard sets up the launch of the cards in Japan.
“Working together with an innovative company like MoriX, we can now produce, deliver and market biometric payment cards with Fingerprints’ advanced and proven technology,” comments Roig. “Introducing biometric payment cards in this region offers great benefits for banks, merchants and consumers alike, as contactless payments in Japan continue to grow quickly.”
FPC executive discusses card adoption, privacy concerns
Michel Roig opened his interview highlighting the value of biometric payment card technology for banks and consumers, particularly in relation to fraud prevention and building customer loyalty.
The executive says biometrics card adoption is on the rise worldwide, with data from FPC suggesting 62 percent of consumers would switch banks to obtain a biometric payment card, and 43 percent of them being willing to pay to get one.
Roig then moved on to addressing common privacy concerns related to the adoption of biometric payment cards.
“As with all new technology, there are apprehensions with being an early adopter,” Roig wrote.
“One question that banks often ask is: ‘Where is a consumer’s biometric data stored?’ and ‘Are images of fingerprints stored in the cloud or on-prem by the issuer, creating a privacy and compliance nightmare?’ The answer is ‘no’!”
Moving forward, the executive said FPC will build on the Mastercard partnership and look at expansion possibilities in Africa and India.
Roig concluded his post by mentioning some of FPC’s recent achievements, including the second-generation T-Shape sensor module and software platform for biometric payment cards achieving Mastercard compliance, and last year’s partnership with BNP Paribas in France.
Idex Biometrics partners with Verisoft
Idex Biometrics announced a new collaboration with payment software provider Verisoft.
The partnership will see Verisoft commercialize Idex’s biometric payment solutions both in EMEA and globally.
“Idex’s collaboration with Verisoft will bring biometric card solutions to market for issuers and personalization bureaus at optimized costs and will broaden our positioning in the ecosystem,” explains the company’s CCO Catharina Eklof.
“We are excited to partner with Verisoft to deliver a holistic and agile approach to biometric solution standards, securing seamless customer payment experiences.”
The move comes weeks after Idex Biometrics joined Infineon’s Security Partner Network as a Preferred Partner.
Crédit Agricole de Lorraine launches biometric Mastercards
The French bank opened applications for a biometric card that will enable customers to authenticate contactless payments above the country’s €50 ($53) contactless transaction limit with their fingerprint.
The biometric cards will be provided through a partnership with Mastercard, which will also provide customers with an enrolment reader once their application is successful.
The Crédit Agricole banking group started issuing biometric deferred debit cards with technology from FPC and G+D in April 2021.