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Fingerprint Cards, Valid team up to launch biometric payment cards in Brazil

Fingerprint Cards, Valid team up to launch biometric payment cards in Brazil
 

Fingerprint Cards and Valid, a provider of payment technology, have collaborated to develop a biometric payment card for the Brazilian market. The card, which incorporates FPC biometric software, aims to enhance security, convenience, and hygiene for contactless payments.

The cards, produced by Valid, will feature Fingerprint Cards’ second-generation T-Shape (T2) sensor module and software platform. The new biometric payment card is set to be presented at Sao Paulo’s Febraban Tech event in June 2024.

Speaking about the new biometric payment card, Adam Philpott, CEO of Fingerprint Cards, states: “Brazil and the wider Latin America region are increasingly being recognized as hubs for payment innovation. I am very pleased that Fingerprints can support Valid in introducing this biometric payment card.

“The card’s high level of security will help reduce fraud while improving the user experience, aiding banks in customer acquisition. We expect several banks in the region to adopt biometric payment technology soon.”

FPC boasts of a payment system that has a biometric sensor that scans as users tap their contactless card on the terminal, to which the biometric data is captured, matched and the payment is authenticated.

Despite a significant rise in contactless payments in Brazil since the pandemic, security concerns persist among consumers. The local preference for contactless transactions and familiarity with biometric technology suggest that the market is ready for advanced payment solutions.

Brazil’s National Monetary Council mandates that financial institutions ensure the integrity, reliability, security, and confidentiality of transactions. By using biometric authentication, the new payment cards offer enhanced security, potentially reducing in-store payment fraud and its associated costs. This technological advancement also helps banks comply with regulations and positions them as leaders in payment innovation.

Elsewhere, FPC recently partnered with WiBioCard, an Italy-based smart card integrator to offer smart card solutions for the global access market. Additionally, the company formed a partnership with Egis Technology with a focus on biometric smart cards.

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