Bank of Cyprus has partnered with Gemalto and Zwipe to introduce a biometric payment card that features fingerprint authentication.
The card will become available in the second half of 2018, the pilot project being part of the bank’s wider plan to digitise its services.
Customers will be able to self-enroll at various bank branches, a custom-designed tablet taking a copy of their fingerprint and activating their payment card with their biometric information. The card is battery-less and will be powered by payment terminals. The system is compatible with existing technology so that businesses will not have to further invest to process purchases with biometric payment cards.
With the fingerprint technology, clients will no longer need to memorise or update their payment card PIN. Unlike passwords or PINs, fingerprints cannot be changed while an authentication system cannot be based on a perfect identical match, given that our skin is easily susceptible to changes in temperature or outside elements that may temporarily distort our fingerprints.