Swedish-based Precise Biometrics' algorithm solution for fingerprint recognition is part of the first market trial of dual interface biometric payment cards with $7 million West Jordan, Utah-based Mountain America Credit Union.
The payment card trial, carried out with Fingerprint Cards and Visa's new division, Visa Ready for Biometrics, works with contact and contactless payments (dual-interface), and reportedly improves the customer convenience because there is no need for PIN codes to authenticate payments.
Authentication comes from placing a finger on the card, making it easier and faster to make payments, benefitting both retailers and consumers. The biometric card works in the existing retail infrastructure. The card's testing among U.S. customers, begins in early 2018 to assess the cardholder experience and the technology of the biometric cards in different retail environments.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
