On October 22, mastercard announced that it will team up with identity identification company IDEMIA and MatchMove, a Fintech company based in Singapore, to pilot the first bank card with fingerprint biometrics and authorization functions in Asia.
Developed by IDEMIA, cardholders can use fingerprints to authorize or verify transactions on payment terminals without providing a PIN code or signature, reducing contact in public places and making transactions more convenient, safe and secure.
The batteryless card developed by Idemia collects energy from the payment terminal and supplies the fingerprint sensor on the card, and all fingerprint data is stored on the card chip instead of in a central database.
MatchMove is one of 21 applicants for digital banking licenses in Singapore. MatchMove is expected to release its first biometric maps in the fourth quarter of this year.
As the world’s leading payment company and the second largest financial telecommunications network after Visa, MasterCard is committed to providing a more convenient and efficient financial payment environment for consumers around the world.
Mastercard’s credit, debit and prepaid CARDS can be paid for in more than 150 currencies in more than 210 countries and territories.