Identity theft is a terrifying modern crime, and so Mastercard is working to reduce the prevalence of that theft with a new thumbprint credit card. On top of PIN and chip technology, the new Mastercard thumbprint credit cards will come with a small biometric sensor for an added layer of security.
In terms of functionality, the cards should be easy to adopt for most consumers. When enrolling with the card at their financial institution, their fingerprint will be converted into an encrypted digital template that is then stored in the card itself. When shopping, the consumer puts their chip into the slot, as normal, but then places their thumb on the card in order to verify themselves (on top of knowing their PIN.)
The new cards are currently being trialed in Johannesburg, South Africa.
Mastercard is Trialing a Thumbprint Credit Card for Added Security
References: newsroom.mastercard & techcrunch