FEITIAN Technologies US has launched two new payment card platforms to offer payment card issuers, acquiring banks, merchants, and users with increased security and fraud reduction.
The newly launched payment card types include Fingerprint Biometric and Dynamic CVV Payment.
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Both these cards can be combined with the FIDO authentication technologies.
The Fingerprint Biometric Card features ‘Supra-Match-On-Card’ enrollment to store the biometric identifier securely on the card.
FEITIAN Technologies director of strategic projects Michael Gwynn said: “Our Fingerprint Biometric Card will help all components of the payment card industry reduce fraud with convenient and secure transactions.
“Because the fingerprint data is always stored cryptographically and locally on the card – and isn’t sent anywhere else or held by any other party – our card offers the perfect combination of transaction security with user convenience for payment solutions. Basically, your fingerprint is now your PIN.”
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By GlobalDataThe card enrolls fingerprint data through desktop or mobile application and is stored cryptographically in the secure portion of the card.
This card does not require batteries and connects via radio frequency identification (RFID) or near field communication (NFC).
It functions only when the user places a verified fingerprint on the card. The card will not be active if not used with a card reader.
Fingerprint Cards senior vice-president of Business Line Smartcards and Embedded Thomas Rex said: “We have partnered with FEITIAN on their biometric product portfolio for a long time, and we see a bright future for PIN-less payments.
“The built-in fingerprint sensor will quickly verify its user with a simple touch, allowing secure and easy payments.”
The FEITIAN Dynamic CVV Card is designed mainly for online purchases, phone purchases and other CNP transactions.
This card provides a three digit-CVV only for a limited duration to reduce fraudulent reuse during purchases.
FEITIAN head of card technologies initiatives Yan Yan said: “These new FEITIAN payment card options combine increased security and fraud reduction with user-friendly solutions. The demand for payment cards with advanced security is strong, and the introduction of these products into the marketplace will help us continue to grow as a valued partner for payment card issuers and financial institutions worldwide.”
