Bank of Cyprus to roll out biometric EMV card
Written by Chris Lemmon
The Bank of Cyprus has selected Gemalto to supply the world’s first EMV biometric payment card for both chip and contactless payments.
Using fingerprint recognition instead of a PIN code to authenticate the cardholder, the card is compatible with existing payment terminals already installed in the country. 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.
The biometric sensor card is powered by the payment terminal and does not require an embedded battery, meaning that there is no limit from battery life or on the number of transactions.
Customers must sign up to the system in-branch, using Gemalto’s tablet designed specifically for the solution. The fingerprint template captured during the enrolment process is stored only on the card to ensure that users’ data privacy is protected.
Bertrand Knopf, Gemalto’s executive vice president of banking and payments, said: “Bank of Cyprus customers will be first in the world to enjoy biometric convenience on a contactless payment card. Gemalto’s biometric sensor payment card is designed to provide maximum security and data privacy.
“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.”