MasterCard Plans To Introduce Cards With Built-In Finger Sensor

Recently, MasterCard has been developing and planning to introduce a chip-carrying credit card that utilizes fingerprint identification to generate secure point-of-sale transactions. So, is this new plan of MasterCard safer than the smart card or chip card?

The use of smart card also known as the chip card or integrated circuit card has been spreading in some parts of the world today. The Europay MasterCard Visa (EMV) has followed this chip card technology and the United States has used the EMV technology since 2014. 

The smart card is one kind of chip card that is used as a security token, which is embedded with a computer chip. This chip is placed in a smart card that could either be microcontroller or memory based that stores and transmits data. They are made of plastic materials like polyethylene terephthalate-based polyesters, polyvinyl chloride and polycarbonate, among others, according to Open PR.

There are various applications of smart cards or chip cards. These include authorization cards, credit or ATM cards, SIM cards, fuel cards, authentication cards and security tokens in computer applications. They could also be used as electronic wallets that could be loaded with funds to pay for merchants, vending machines, phone payments, household utility prepayments and parking meters. The holder of the card could utilize it even he is not the owner.

These smart cards could provide security, authentication, personal identification, application processing and data storage. It could also be contact or contactless smart card.

Meanwhile, MasterCards with built-in finger sensor features fingerprint pattern that is encrypted and stored on the EMV card chip using a fingerprint reader that is embedded in the opposite end of the card. Once you inserted the card into a chip reader to make the transaction, you place your finger over the fingerprint reader portion of the card. The chip will then authenticate your identity by matching your fingerprint to the stored pattern. This would then permit your transaction to continue.

Currently, this technology is in the trial phase in South Africa. On the other hand, MasterCard wants to expand its trial to European and Asian markets in the coming months. It will expand worldwide by the end of 2017, according to 5 On Your Side.