Mastercard’s New Biometric Credit Cards
With personal fingerprint technology continuing to take off in the realm of digital security – especially in the case of Apple’s iPhone – it’s no surprise then that credit card companies are beginning to dabble in the technology as well. Enter MasterCard, who is now testing that very same technology on their credit cards in South Africa.
Here’s how it works. Each card is encrypted with your digital fingerprint so when you go and make a purchase, the card will then authenticate your fingerprint from the bottom right sensor on the card with the digital one that’s already been stored. If the prints match, then the purchase is authorized. The intended goal here is for the biometric sensor to take the place of a pin number or chip, further securing your credit card and financial information from nefarious individuals. Will the tech make it out of the testing phase and into the market? Only time and more testing will tell. Next up…Europe and Asia Pacific.