Biometric technology company Zwipe has announced that they have partnered with Gemalto, the world’s largest card manufacturer, to pilot the first battery-less dual-interface fingerprint activated payment card with the Bank of Cyprus.
Fingerprint activated payment cards, are seen as the next major market innovation when looking at card based payments. Consumers will benefit by having a more secure and convenient method of payment that utilizes their own fingerprint to authenticate and complete transactions at checkout. The advanced security enabled by biometrics will remove the need for a 4-digit or longer PIN entry as well as allow for the elimination of transaction limits on contactless payments.
Commenting on the value of the technology, Kim Humborstad, CEO and founder of Zwipe said having a more secure method of payment that does not infringe on convenience or consumer privacy is essential. Combining that with the ability to use the card for any type of transaction regardless of amount will make the card top of wallet and top of mind for the consumer. This first of its kind card being piloted by Gemalto and the Bank of Cyprus is a fingerprint activated payment card which utilizes Zwipe’s unique energy harvesting capacity and biometric engine to enable the authorized user to complete contactless and contact transactions with the card, without the need for battery power. The card works with existing payments infrastructure as standard point of sale terminals provide the power necessary to operate.
