TUE, MARCH 12 2019-theG&BJournal- A futuristic payment system is about to be born. The ultimate game changer developed by Gelmato, a digital security firm based in the Netherlands, will allow users make ‘’contactless’’ payments without needing to input a PIN or offer a signature.
British bank NatWest is privileged to be the first institution to trail the card. The trial which will begin April 2019 will involve the participation of 200 customers.
According to FUTURISM report, Gemalto claims your fingerprint data never leaves the local storage on the card itself, making it less vulnerable to hackers. But no system, biometric or not, can guarantee your personal information is safe — even fingerprints can be spoofed or stolen.
‘’Will it catch on? It’s hard to say. But a fingerprint scanner built into the bank card itself is an elegant concept for the future of financial technology,’’ FUTURISM said.
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