With a Zwipe-enhanced MasterCard, just hold your thumb against the fingerprint ID on your credit card and wave it over a contactless payment station. When your transaction goes through, the machine beeps, and you're on your way. This is done by biometric (finger print) authentication.
"Our belief is that we should be able to identify ourselves without having to use passwords or PIN numbers," Ajay Bhalla, President of Enterprise Security Solutions at MasterCard, said in a statement. "Biometric authentication can help us achieve this."
The card stores fingerprint data directly, without the need for an external database. Once activated via a fingerprint scan, the bank card can be used anywhere that accepts contactless payments. And without the need for a PIN entry, Zwipe cardholders can make payments of any amount, for all those big purchases.
"Our challenge is to ensure the technology offers robust security, simplicity of use and convenience for the customer," Bhalla said.
By harvesting energy from payment terminals, the Zwipe MasterCard can function without a battery—just like any of the other credit cards in your wallet.
The card is set to roll out internationally next year.
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