2 banks begin testing Visa's biometric EMV card
Visa has initiated pilots with Mountain America Credit Union and Bank of Cyprus of a new EMV dual-interface payment card, making these the first commercial pilots to test an on-card biometric for contactless payments, according to a press release.
"The world is quickly moving toward a future that will be free of passwords, as consumers realize how biometric technologies can make their lives easier," said Jack Forestell, head of global merchant solutions for Visa. "As electronic payments expand dramatically around the world, Visa is committed to developing and investing in emerging capabilities that deliver a better, more secure payment experience."
To use the card, a cardholder places their finger on the sensor and a comparison is performed between the fingerprint and the previously enrolled fingerprint template securely stored in the card in order to authenticate the transaction. Green and red lights are integrated into the card to indicate a successful or unsuccessful match, according to the press release.
The Bank of Cyprus and Mountain America Credit Union pilots will begin in early 2018 to assess the cardholder experience and the technology of the biometric cards in different retail environments. The Bank of Cyprus pilot uses technology from Gemalto, while Fingerprint Cards and Kona-I power the Mountain America Credit Union test.