Natwest has released the first fingerprint scanning card to be issued by a UK bank, with an initial pilot currently underway.
The biometric fingerprint card is on a national trial with 200 customers participating. The pilot will last for three months.
Through the new card, users are able to use their fingerprint to verify transactions above the £30 contactless payment limit. This aims to increase security and also remove the hassle of having to enter PINs.
The card is still able to be used in a traditional chip and PIN formats and used at shop POS terminals, ATMs, in the post office or through digital banking.
To activate the card, a customer simply registers a fingerprint on the card, which can be done from home; however, once a fingerprint is linked with a card, it cannot be changed. The finger data will only be stored directly on the card and not with the bank – to verify transactions it uses the card’s data, not the banks.
Visa managing director, UK & Ireland Jeni Mundy said, “In financial services, biometrics are gaining ground as a secure and convenient alternative to passwords and PINs. This technology has the potential to make the lives of consumers easier and provides greater choice to confirm their identity. At Visa we’re committed to working with partners to develop and invest in emerging capabilities that deliver a better, more secure payment experience for consumers”
Biometrics technology has seen a lot of focus from the RegTech market of late.
Biometric technology developer Zwipe recently partnered with TAG Systems Group to build a commercial biometric payment card. Similarly, Fingerprint Cards released its biometric software for payments which could be used with cards, wearables and dongles.
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