A new biometric card by Mastercard which combines chip technology with fingerprints to store the cardholder's identity for in-store purchases will soon be tested by Absa and Pick N Pay.
Two separate trials were recently concluded.
Absa's Geoffery Lee says the bank is the first institution to explore the method in Africa.
Lee explains how it works.
A customer will enroll two fingerprints onto a digital template which rests on the card and when they then present the card at the point of sale they will simply authenticate by putting their finger on the little reader on the card and it will authorise that transaction without inserting a pin.— Geoffery Lee , Managing Executive: Card and Payments at Absa
Lee says the system avoids having your card pin stolen from you, as well it forcibly extracted from you.
A full roll-out is expected to take place later this year.
Click on the link below to listen to some of the other benefits associated with the card system…