Infineon Technologies is a company that developed smart card payment methods and it works together with NEXT Biometrics, which is a firm focused on fingerprint sensor technologies. This partnership brings forth a new design of seamless payment cards that go through a biometric process. This enables a smooth shopping experience and production solution -- it functions using a fingerprint sensor as the second authentication.
This biometric security surpasses traditional signature, magnetic stripe, chip, or embossing solutions. The sensor is embedded within the card and each cardholder's fingerprint data is only stored within the card itself and not under any other system for user privacy. This solution is faster, it reduces fraudulent actions, and it also has a false rejection rate to measure the frequency of when prints are properly or incorrectly recognized. The design of the collaborative card infused a biometric module, an operating platform, payment applet1s, and proven lamination processes for manufacturing.
Why This Trend Is Growing
- Biometric Payment Cards
- The development of biometric payment cards with embedded fingerprint sensors revolutionizes payment security and creates opportunities for companies in the payment industry to provide enhanced payment security options.
- Seamless Payment Experience
- The integration of fingerprint sensors into payment cards enhances the payment experience by eliminating the need for PINs and signatures, speeding up transaction times and creating opportunities for companies in the retail industry to enhance the payment experience for their customers.
- Embedded Biometric Sensors
- The integration of fingerprint sensors into payment cards creates opportunities for companies in the biometrics industry to develop and market more sensor-embedded products such as door locks and other authentication technologies.
Industries Being Reshaped
- Payment Industry
- The development of biometric payment cards offers an opportunity for companies within the payment industry to offer a unique and secure payment method.
- Retail Industry
- The integration of fingerprint sensors into payment cards enables a faster and more secure payment experience, providing an opportunity for companies in the retail industry to enhance the payment experience for their customers.
- Biometrics Industry
- The creation of biometric payment cards with embedded fingerprint sensors creates an opportunity for companies in the biometrics industry to develop and market more sensor-embedded products such as door locks and other authentication technologies.
