News
New SPA Insights Paper Highlights How Biometric-Enabled Dual Interface EMV Smartcards Are Set to Revolutionize the Global Payments Market
May 2018 by Smart Payment Association
The recent launch of the world’s first EMV biometric dual interface payment card for both chip and contactless payments by the Bank of Cyprus illustrates how issuers around the world are preparing to seize the opportunities offered by biometric-enabled payment cards.
Giving consumers and merchants additional advanced secure verification that further extends today’s frictionless and highly secure payment options, the addition of biometric functionality to EMV payment cards paves the way for high-value contactless payments and provides an easy-to-implement resolution to the challenge of driving financial inclusion in markets like Africa, South America and the Indian sub-continent.
In its new Biometrics in Payment paper, the Smart Payment Association (SPA) evaluates the definitive security and convenience advantages offered by sensor-on-card recognition and verification, how this approach fits well with existing EMV architectures, and provides recommendations on the key considerations for the design of underlying enrolment subsystems and enrolment programs.
