SmartMetric Says up to 86% of Consumers Are Interested in Using Biometric Technology on Credit Cards to Make More Secure Payments – but It Must Be Easy to Enroll and Work in All Card Transaction Points
Unfortunately for consumers, a few premature and ill thought-through rollouts of biometric credit cards in
First point of resistance is that card users needed to go into a bank and use a fingerprint scanner in the bank to register their fingerprint on the biometric card. This in a day and age when consumers hardly ever visit a bank branch, including receiving their credit cards via mail. The strange thing is that banking is done on mobile phones that may or may not use biometrics, but if biometrics is used, it is very simple for a consumer to register their fingerprint on their phone. No need to visit a bank branch and give your fingerprint to the bank.
“In making enrollment of a person’s fingerprint onto their biometric card requiring a visit to a bank made such trials ready to fail from the beginning,” said SmartMetric’s President and CEO,
Another failure point was the fact that a person needed to hold their card inside a reader, since these biometric trial cards did not have their own internal power, but rather used the power of the card reader to power the on-card fingerprint matching process.
“The biggest problem with card reader power-dependent cards is that in many situations the card reader requires full insertion into the reader, thereby not allowing the card holder to hold the card;s fingerprint sensor to perform an on-card fingerprint scan, making such non-powered cards unusable in many credit card use situations,” said
The
The global biometric payment cards market size was valued at
It is projected to reach
“We at
The
Inside the card is also a hardware engineered solution that senses when an actual live fingerprint is used on the card that foils fake fingerprints from thieves.
“Our amazing fingerprint activated biometric credit card is years ahead of anyone else, and will provide a quantum leap in anti-credit card fraud for banks and consumers alike,” said
A fingerprint scan credit card is a type of biometric card that uses a built-in fingerprint scanner to verify the identity of the cardholder when they try to make a payment. This technology is designed to enhance the security and convenience of credit card transactions, especially for contactless payments, as well as standard contact payments and ATM transactions.
It has taken years of research and development to perfect the internal power system within the
The
Credit cards still dominate the way consumer make payments. Non-credit card payments such as phones account for less than 5% of payment transactions, while the majority of transactions are done using either a credit or debit card.
According to a report published by Forbes Adviser on
1
Biometric Payment Cards Market Size Report, 2022 - 2030 (grandviewresearch.com)
2
Biometric Payment Cards Market Trends, Share, Size, Growth, Forecast 2030 (straitsresearch.com)
3
Credit Card Statistics And Trends 2024 – Forbes Advisor
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