Banks to pilot biometric payment cards in India, Poland, Iraq, Mexico, Lebanon and Egypt • NFCW



PAY BY FINGERPRINT: Several banks are testing Zwipe Pay One biometric payment technology

Banks in India, Poland, Iraq, Mexico, Lebanon and Egypt are among those ready to test biometric payment cards that allow customers to authenticate contactless payments with their fingerprints.

Pocztowy Bank in Poland started offering its business customers a biometric payment card in December with a view to expanding the pilot project to other business account holders this year, while Indian payment service provider Easy Pay will test its biometric card before a commercial deployment later in 2022..

The Iraqi International Network for Cards and Digital Payment Services (INC) will also test a biometric version of its Neo Visa card and offer biometric payment cards to client banks in the Iraqi market, with payment service providers through ForzaCard in Mexico, Areeba in Lebanon and Masria Digital Payments in Egypt are also announcing that they will make biometric cards available to their customers and bank customers.

The trials in India, Iraq, Mexico, Lebanon and Egypt follow a series of agreements signed by service providers in those territories with Norway-based biometric card technology provider Zwipe.

Growing demand

“Biometric payment cards, built on the unique Zwipe Pay One silicon platform, deliver world-class security and a completely contactless user experience, which improves customer loyalty and provides a solid business case for customers. banks, ”Zwipe explains.

“In many markets around the world, and particularly in the Middle East and North Africa region, Zwipe has experienced a strong and growing demand for biometric payment cards from banks and service providers. of payment. “

In Poland, Bank Pocztowy’s biometric payment card uses technology developed by Thales and incorporates “a special fingerprint sensor designed to perform better than mobile fingerprint sensors”, explains Thales.

“To complete the transaction, the cardholder must place their finger on a sensor. If the biometric data matches those recorded previously, the card indicator light turns green and the payment is processed.

“In case a fraudster wants to use the card, the cardholder’s assets are protected: the card light turns red and the fingerprint-based transaction is rejected. “

“In addition, the biometric card will never be discharged. It draws all the energy it needs from the point of sale terminals for each transaction and is never dependent on a battery, ”adds Thales.

Consumer support

Pilots arrive as survey finds nearly two-thirds of credit card users in the United States (65.5%) would be willing to “pay for a more secure, biometric, secure credit card with a reader. integrated fingerprint for your protection ”.

“This is based on the consumer’s desire for more secure technology that helps protect against card fraud. For bank card customers, the concern with card fraud goes far beyond the financial loss they may or may not suffer, ”says SmartMetric, the US-based biometric technology provider who commissioned the investigation.

“Card customers find it unpleasant to have their financial security breached. It is a logical and emotional reaction from consumers.

“The feeling of violation along with the general concern for their financial security is the main reason research shows that so many existing card customers are willing to pay for a biometric card.

“Based on this consumer study, the future number of credit and debit cards with built-in biometrics can easily exceed 1 billion cards. This is only a 10% adoption rate when consumer research shows a potential adoption rate of over 60%.

Credit Libanais in Lebanon, Jordan Kuwait Bank, BBVA in Mexico, and Crédit Agricole and BNP Parisbas in France have all announced that they will start issuing or testing biometric payment cards in 2021, while China Construction Bank and Postal Savings Bank of China has started testing “hard wallet” biometric cards as part of China’s large-scale tests of its central bank digital currency launched last year.

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