Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

A UK bank is testing credit cards which use fingerprints to verify transactions

A UK bank is testing credit cards which use fingerprints to verify transactions

The way people bank and pay for goods and services is changing at a fast pace.
In the U.K., the last few years have seen a step change in the way people bank, with contactless payments becoming increasingly popular.

Looking ahead, as technology develops biometric cards could become more and more common.

Major U.K. bank NatWest has started a three-month trial of a biometric credit card.

The pilot, launched Monday, is in partnership with MasterCard and digital security firm Gemalto, and involves 150 customers.

If a contactless transaction is greater than £30 ($36.66), the customer’s finger print can be used to verify the transaction. If the purchase exceeds £100 the card is inserted into a card terminal, with verification again coming from a fingerprint.

At ATMs, cardholders will still need to enter a PIN. The card can also be used for buying goods online and works with current contactless and Chip and PIN devices, the bank added.

Users can register their fingerprint on the card at home. When a fingerprint has been “locked” onto the card, it can’t be altered. Biometric data doesn’t leave the card and is not shared with either the merchant or bank, according to NatWest. In addition, fingerprints are not stored in the cloud.

Earlier this year NatWest, which is a member of the RBS Group, launched a trial of biometric debit cards. Debit cards are connected to a customer’s checking account and are used to take money from ATMs and pay for goods in stores or online. Each debit card has a PIN number which is used to verify withdrawals, and where necessary, in store purchases.

In a statement Monday, Georgina Bulkeley, NatWest’s director of innovation, said the biometric debit card pilot had been successful and that the bank was now “looking to test the technology further with credit cards.”

“This is the biggest development in card technology in recent years and not having to enter a PIN not only increases security but makes it easier for our customers when paying for goods or services,” she added.

In the U.K., the last few years have seen a step change in the way people pay for things. According to U.K. Finance’s UK Payment Markets 2019 report, the number of contactless payments in 2018 hit 7.4 billion, an increase of 31% from 2017. In the years ahead, biometric cards could become increasingly common as technology develops.

“The lack of obstacles inhibiting the introduction of biometric cards — from integrated Chip and PIN machines to ATMs — suggests that if this trial is successful, biometric cards could soon become the norm, just like paying with your phone has rapidly become routine for many people in recent years,” Simon King, a partner at Octopus Ventures, said in a statement sent to CNBC via email.

Banking is one of many sectors in which biometric verification systems are starting to be deployed.

Today, some Samsung phones can be unlocked with iris scanners, while Apple’s Face ID uses facial recognition technology to secure iPhones and iPad Pros.

In aviation, the Australian airline Qantas recently wrapped up a trial of facial recognition technology at Sydney Airport. According to the company, over 4,000 people signed up to use their “face as a boarding pass,” with more than 200 flights leaving the airport with passengers who had used the technology.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Massive Anti-Government Protests Erupt in Belgrade
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Hungary's Prime Minister Criticizes NATO's Role in Ukraine
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Hungarian Scientist to Conduct 30 Research Experiments on the International Space Station
NATO Members Agree to 5% Defense Spending Target by 2035
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
International Astronaut Team Launched to Space Station
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
Oil Prices Set to Surge After US Strikes Iran
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
×