What Are Biometric Credit Cards?

Get ready for a credit card that can instantly verify your identity with a fingerprint.

Biometric payment is a point-of-sale (POS) technology that uses biometric authentication based on physical characteristics to identify the user and authorize the deduction of funds from a bank account. Fingerprint payment, based on finger scanning from a fingerprint sensor, is the most common biometric payment method. It is already being used in Europe and Asia and will soon be available stateside as well. 

The next step in the evolution of contactless payments

Imagine buying a beer, a tank of gas, or a new car with just the touch of your finger. The next generation of credit cards, known as biometric payment cards, can make this happen. Leading banks such as BNP Paribas,Crédit Agricole, andBank Pocztowy are now making biometric cards available to all of their customers. Numerous other banks - Worldwide - have implemented pilot programs. Fingerprint Cards found that “Respondents between 18 and 35 years old are the most willing to switch banks for a biometric card (66 percent), and higher income respondents are also willing to switch at higher rates (61 percent).” Simply put, merchants and consumers want better card security. This demand is being recognized by Banks and FinTech’s Worldwide, including the US. 

Fingerprint biometrics on payment cards is the future

With a fingerprint sensor right on the card body, secure payments just got easier than ever before. With a simple touch, no need to enter a PIN code on the Point-of-Sales (POS) Terminal to perform a payment transaction, both in contact mode and in contactless mode. The user (you) is securely authenticated and approved with your fingerprint and can charge any amount within your credit limit. 

Wi Fold™ will win by a…finger!

The Wi Fold™ Wallet not only offers contactless payments without removing the card from the wallet, but it is also biometric-ready for people that already have biometric cards. A diagonal cutout, where your main payment card goes, allows your thumb placement on the biometric sensor which all biometric cards have. The card verifies the user’s ID by thumb print and matches it to the card being used for the transaction. 

Biometrics Goes Mainstream

Optimized for the contactless era, biometric cards make everyday interactions safer by eliminating the need to enter a PIN on a keypad, thus ushering in a new era of safe and convenient payments. One factor that aids market acceptance of biometric cards is that most merchants won't need new card readers. They can use the same ones that work with chip cards and contactless payments.