Freely subscribe to our NEWSLETTER

Catharina Eklof, Chief Commercial Officer at IDEX Biometrics ASA:
“This week’s £100 contactless limit increase in the UK is positive news for the payment industry. However, this also comes with concerns around rising fraud risk. This is where fingerprint biometric payment cards come in. By linking the user to their card via the unique properties of their fingerprint, banks and retailers can create a payment process that is safe, speedy and highly secure. This new generation of on-card fingerprint recognition technology has shown that contactless payments can now be made more than twice as secure as traditional card payment transactions requiring a four-digit PIN. Thanks to fingerprint biometric payment cards, consumers can finally have peace of mind when completing high-value contactless payments.”

Source: Both independent field trials and testing performed by accredited security labs commissioned by IDEX Biometrics during 2021 demonstrated the likelihood that a fingerprint biometric payment card incorrectly accepts an unauthorized user was less than 1 in 20,000. This can be compared to the likelihood of correctly guessing a user’s 4-digit PIN of 1 in 10,000.