Mobile payments might seem to be slowly replacing credit cards these days due to convenience and security, however MasterCard doesn’t seem to think so and has introduced a credit card with a fingerprint sensor on it, it literally adds on another layer of security to the usage of your credit card, on top of PIN verification and signature, this makes a lot of sense given that not all smartphones support storing credit cards and mobile payments aren’t supported everywhere.
According to Engadget, MasterCard’s biometric credit card will accept up to two fingerprints for authorizing transactions, the user’s fingerprint is then stored in the EMV chip of the credit card, users can still opt to switch to PIN or signature if they want to, and the only trouble as of it is that you can’t simply change the fingerprint on the card like on your smartphone, you will need to visit an enrollment centre set up by your bank to do just that. Best of all, once MasterCard rolls out this feature to banks worldwide, merchants do not need to change their credit card terminals, as it works just like current credit cards with the added benefit of using your fingerprint to authorize the transaction.
With a fingerprint sensor on your credit card, would you still see yourself using Samsung Pay or Apple Pay? Let us know about it.