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MasterCard & Zwipe Partner to Kill the PIN & Password on Credit Cards

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mastercardMasterCard and Zwipe have launched  Zwipe MasterCard payment card, the world’s first contactless payment card featuring an integrated fingerprint sensor which includes an integrated biometric sensor and the Zwipe secure biometric authentication technology that holds the cardholder’s biometric data.

With an EMV certified secure element and  MasterCard’s contactless application, the card is the first of its kind to combine the security of biometric authentication with the speed and convenience of contactless payment.

According Ajay Bhalla, President of Enterprise Security Solutions at MasterCard commented, “Our belief is that we should be able to identify ourselves without having to use passwords or PIN numbers. Biometric authentication can help us achieve this. However, our challenge is to ensure the technology offers robust security, simplicity of use and convenience for the customer. Zwipe’s first trial is a significant milestone and its results are very encouraging.”

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A users fingerprint data is stored directly on the card and after  activation by a simple fingerprint scan, the Zwipe MasterCard card can be used to make contactless payments. The biometric authentication replaces the PIN entry, thus enabling cardholders to make payments of any amount, unlike other contactless payment cards on the market.

Zwipe is now working on the next generation of its card that will be the same format as a standard card and designed to work with all payment terminals for release in 2015. This new card will harvest energy from the payment terminals without the need for a battery.

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Kim Humborstad, founder and CEO of Zwipe, added, “Cardholders love how easy the card is to use with the added security feature. We have also had exceptionally good feedback from retailers participating in the pilot. This pilot enabled the partners to gather valuable customer feedback, experience and best practice for the enrolment and deployment phase.”

“We will offer biometric authentication and contactless communication for all our cards since it combines convenience and security for both our cardholders and merchants” said Morten Danielsen, Business Development Director, Sparebanken DIN.

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Sam Wakoba
Sam Wakobahttp://techmoran.com
Taking you on tour through Africa's tech and business ecosystem, one story at a time since 2010! Based out of Nairobi, Kenya, Sam is the founder and managing director of Moran Media, which runs  TechMoran.com, various other digital platforms and a startup incubation hub for Kenya's youthful entrepreneurs. Drop me a mail at [email protected]

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