Stay tuned with CashEssentials news ! - beyond payments
By subscribing, you accept our Privacy Policy.

No pins, just your fingerprint

Categories : Cash is efficient, Innovation contributes to the efficiency of cash
August 28, 2018
Tags : ATM, Europe, Innovation
Cyprus could be the first country to use the EMV biometric dual interface payment card if the pilot project launched by the Bank of Cyprus results to be successful.
Communication Team / Equipo de Comunicación

This post is also available in: Spanish

Cards are slowly evolving from a pin- to a fingerprint-powered verification system and the first country to test this technology is Cyprus. In fact, the Bank of Cyprus is running a pilot programme with 100 pre-selected customers. The Bank is still unsure of the wider deployment schedule as this will greatly depend on the trial’s final data.

Using Gemalto’s technology, the Bank of Cyprus might become the first country to use the “world’s first EMV biometric dual interface payment card.” This could facilitate user experience as it will no longer require consumers to memorize long pin numbers, and could compete with ApplePay via its Touch ID technology.

Although currently designed for debit cards, the biometric card could also revolutionize the ATM experience, speeding up the cash withdrawal process significantly. In fact, the Bank of Cyprus debit cards are designed to work for both contactless and chip machine payments – which could apply to ATMs over time.

The fingerprint data is stored in the card and is verified by a sensor that is integrated into the card. Yet, the card is not powered by a battery, but rather by the payment terminal, making its use battery-free. At the time of payment, the biometric data stored in the card is compared with the fingerprint scan.

Customers wanting to have access to this technology in the future will be required to pay a €100 subscription fee and will need to register their fingerprint data once at a Bank of Cyprus branch.

This post is also available in: Spanish