Do you get yourself in to a bit of a pickle because you’ve forgotten your PIN number for your credit card? Well these days could be over soon as there are developments being discussed of having fingerprint scanners on your cards!
Mastercard has introduced this payment method in South Africa. Instead of the credit card owner manually inserting their pin, it features a small area for a fingerprint scanner that will only recognise the cardholder’s fingerprints. It is designed to make card payments safer than what they are now.
I’m sure many of you have a contactless bank card in your purse or wallet that you’ve used every so often. But what happens when you lose your card? Someone may pick it up and think it’s a free spending spree (under £30 per purchase though). There’s a great number of people who don’t want to use contactless payments because they don’t see it as secure enough which is why they use chip and pin.
The aim of fingerprint scanners is to make transactions safer and quicker. The user will need to hold the card by the fingerprint sensor and insert the card in to the reader. It will then verify and match up the fingerprint, allowing it to approve the transaction WITHOUT a chip and pin.
It’s not been released yet as it is still in trial to make sure the method is safe and secure; and it plans to release this technology later in 2017. It’s not that long ago since the contactless payment method was released. It has thought that PIN numbers can easily be cracked, stolen and forgotten which can get you in to a right mess with the bank, so Mastercard wanted to make a better and easier solution to make card payments ‘shop-friendly’ so to speak.
There are around 10,000 combinations in the world and it’s surprising how many people have their PIN guessed or stolen. You don’t really want a PIN number that is easy to forget which is why people choose a simple option such as their day and month of birthday or just something that’s quite easy to remember. Using the fingerprint scanner, there is only 1 in 50,000 chance of matching someone’s fingerprint.
Why is this being developed?
Quite a lot of people are concerned about security and privacy, especially with money and personal details which is why technology is constantly expanding to create higher levels of security. Hacking is a major concern with technology currently, so developers want to make sure that hackers just simply cannot win.