BANKING

A fingerprint-scanning bank card is coming to kill your PIN

By Oliver Smith 20 April 2017
Summary

Forget those four digits (for the last time).

Passwords are vanishing from our lives, being replaced by fingerprints, voice and facial recognition.

Soon one of the most common passwords, your bank card’s PIN number, could disappear too.

This morning Mastercard took the wraps off its latest innovation, a fingerprint-scanning bank card that it’s been quietly testing in South Africa.

From the outside the fingerprint card appears no different from your regular bank card.

But, when paying in a shop, rather than entering your PIN, you simply place your finger on a patch of the card in order to pay.

Mastercard says it's planning a trial of its new biometric card in Europe.

Mastercard claims it’s as quick and easy as using a PIN, but far more secure as no one can steal your digits.

“Consumers are increasingly experiencing the convenience and security of biometrics,” said Ajay Bhalla, president, enterprise risk and security, Mastercard.

“Whether unlocking a smartphone or shopping online, the fingerprint is helping to deliver additional convenience and security,” said Ajay Bhalla, Mastercard’s president of enterprise risk and security.

“It’s not something that can be taken or replicated and will help our cardholders get on with their lives knowing their payments are protected.”

This fingerprint-scanning wizardry isn’t the first ‘bank card of the future’ we’ve seen in recent months, in September we revealed Oberthur’s Motion Code card which changes the digits on the back of your card every hour to eliminate online fraud.

Read more: This high-tech card is being rolled out by French banks to eliminate fraud

Mastercard says it’s planning to trial its new card in Europe in the coming months.

Let’s hope that both technologies take off, so the future of finance is more safe and secure than ever before.