Bank of Cyprus selects Gemalto to supply the world’s first EMV biometric dual interface payment card, for both chip and contactless payments. The cardholder gets authenticated by fingerprint recognition instead of a PIN code. When customers place their fingerprint on the sensor, a comparison is performed between the scanned fingerprint and the reference biometric data securely stored in the card.
Not only this, the card is compatible with existing payment terminals already installed in the country. Thus, it does not require an embedded battery meaning no limit to the number of transactions.
Ensuring complete privacy, Gemalto’s biometric sensor payment card is based on the principle that biometric data should always remain in the hands of end users. Bank of Cyprus’ customers will complete the swift enrolment process at the bank’s branches, using Gemalto’s tablet designed for the solution.
The biometric personalization and card activation process is designed to avoid transmission of biometric data over the air to ensure that users’ data privacy is protected. The fingerprint template captured during the enrolment process is stored only on the card.
“Bank of Cyprus customers will be first in the world to enjoy biometric convenience on a contactless payment card. Using biometrics for contactless payments is a natural move as it fits in naturally with the gesture used to pay. It allows a better user experience, enabling higher transaction amounts without entering a PIN while benefiting from the convenience of contactless,” said Bertrand Knopf, Gemalto’s executive vice president Banking and Payment. Read more…