Fingerprint Cards AB (Fingerprints) and Valid, a global payment technology provider and integrator of secure solutions for identification, mobile and payment ecosystems, have partnered to develop a biometric payment card for the Brazilian market.
According to the companies, the card, which features Fingerprints’ biometric technology, will offer new levels of contactless security, convenience and hygiene.
The cards, manufactured by Valid, will feature Fingerprints’ second-generation T-Shape (T2) sensor module and software platform.
The companies highlight that by leveraging a unique physical characteristic to authenticate payments, new levels of security are achieved with biometric payment cards.
This can help banks align with regulation and reduce in-store payment fraud, and the associated costs of both.
Banks that lead the way in payment innovation are also afforded an attractive brand image.
“Brazil and the wider Latin America region is increasingly being recognized as a hub for payment innovation,” said Adam Philpott, Fingerprints’ CEO.
“I’m very pleased that Fingerprints can support Valid in adding this biometric payment card to its product portfolio.
“The card’s high level of security will help reduce fraud while enhancing the user experience, thereby aiding banks in customer acquisition.
“We anticipate that several banks in the region will soon adopt biometric payment technology.”