MasterCard looking to roll out biometric fingerprint cards in UK

Fingerprint technology will ensure greater security when it comes to electronic transactions. Photo/123RF.

Mastercard is in talks with British banks to introduce a biometric payment card, as a deadline to implement EU regulations to tackle banking fraud approaches.

Currently, the US company is testing the biometric card, which has an inbuilt fingerprint sensor, in South Africa, but hopes it can be rolled out in Britain in coming months.

When the card is performing a payment, a shopper places the end of their finger on the sensor to confirm their identity, allowing the transaction to take place.

The fingerprint information on the card will allow customers to bypass rules brought in with a new directive, which was created by the European Commission, that mean customers will have to confirm their identity every five times they make a contactless payment.

The card will also not require any upgrades to be made to existing payment terminals at shops. Mastercard said that British banks are interested in adopting the technology and talks are underway.

However, a pilot in the UK is yet to be confirmed. It also plans to introduce a biometric authentication app, which would allow shoppers to approve online payments and transactions with a "selfie" or a fingerprint using their phone.

The Second Payment Services Directive (PSD2) will be brought into force at the end of September next year.

This regulation, created by the EU, will require people to use two methods of authentication when carrying out payments.

Since 2014 there has been talk about "fingerprint credit cards" rolling out in Britain that would let you pay with a touch of your finger.

Banks and retailers are keen to avoid long queues forming at checkouts, as the new regulation will mean customers will have to enter their PIN more frequently to make payments.

- The Telegraph