Gemalto launches first biometric card for contactless payments

Gemalto launches first biometric card for contactless payments

New EMV card reads the fingerprint of the person holding it and compares it with biometric details already held on the card. 

Digital security company Gemalto has announced it is to supply the world’s first biometric EMV card for contactless payments to the Bank of Cyprus.

Using fingerprint recognition instead of a PIN code to authenticate the cardholder, the new card will be compatible with existing payment terminals already installed in the country. When a customer places their fingerprint on the card’s embedded sensor, a comparison is performed between the scanned fingerprint and the reference biometric data already stored on the card.

According to Gemalto, replacing a PIN code with biometric authentication will facilitate higher value contactless transactions, which today are typically subject to strict value limits.

Read more: Fintech app Glance Pay heralded as ‘the next PayPal’

Energy and enrollment

This biometric sensor card doesn’t require an embedded battery. Instead, it is powered by the payment terminal itself. According to Gemalto, this means that its use won’t be limited by battery life or number of transactions.

Bank of Cyprus customers will be required to enroll for the cards at bank branches, where their fingerprints will be captured and the card activation process completed using a purpose-built tablet device to avoid over-the-air transmission of personally identifiable data.

“Bank of Cyprus customers will be first in the world to enjoy biometric convenience on a contactless payment card. Gemalto’s biometric sensor payment card is designed to provide maximum security and data privacy” said Bertrand Knopf, Gemalto’s executive vice president for banking and payment.

Gemalto launches first biometric card for contactless payments

Gemalto Biometric Payment Card (Credit: Gemalto)

“Using biometrics for contactless payments is a natural move as it fits in naturally with the gesture used to pay. It allows a better user experience, enabling higher transaction amounts without entering a PIN while benefiting from the convenience of contactless.”

Stelios Trachonitis, card centre manager at Bank of Cyprus added:  “Our customers will benefit from this innovative payment solution with the peace of mind that their biometric data never leaves their hands.”

Gemalto is currently in the process of being acquired by French aerospace and defense group Thales, in a deal that was agreed in mid-December 2017 and is thought to be worth around $ 5.43 billion.

Read more: Bank of America, FitPay partner to speed up wearable payments

The post Gemalto launches first biometric card for contactless payments appeared first on Internet of Business.

Internet of Business

Biometric IoT | Spying Appartatus | Protect Security Risks

Biometric IoT | Spying Appartatus | Protect Security Risks

‘Biometric’ security for smart devices could stop cyber-attacks

New security technology that could stop cyber-attacks and protect the privacy of billions of smart device users worldwide could soon be available as a result of a partnership between the University of Kent and University of Essex.

Numerous high-profile organisations have recently fallen victim to cyber criminals who have deliberately infiltrated their computer networks and introduced viruses, with devastating consequences.

The route in is often through internet-connected smart devices that are insecure. The process of connecting these devices, allowing them to talk to each other and us, is known as the Internet of Things (IoT), but their insecurity can mean organisations are vulnerable to attack and individuals at risk of being spied on. (Read More)

Documents could link Russian cybersecurity firm Kaspersky to FSB spy agency

U.S. intelligence agencies have turned up the heat in recent days on Kaspersky Lab, the Moscow-based cybersecurity giant long suspected of ties to Russia’s spying apparatus. Now, official Kremlin documents reviewed by McClatchy could further inflame the debate about whether the company’s relationship with Russian Intelligence is more than rumor. The documents are certifications issued to the company by the Russian Security Service, the spy agency known as the FSB. Unlike the stamped approvals the FSB routinely issues to companies seeking to operate in Russia, Kaspersky’s include an unusual feature: a military intelligence unit number matching that of an FSB program.

For years, suspicions that Kaspersky is connected to Russia’s spying apparatus have dogged the company, a leading global seller of anti-virus programs. Founder and CEO Eugene Kaspersky studied cryptography, programming and mathematics at an academy operated by the KGB, the FSB’s Soviet-era predecessor, then worked for the Ministry of Defense.(Read More)

The Cyber Security Risks and How to Protect Against Them

While the IoT affords many advantages by connecting the world, security risks pertaining to IoT are growing and rapidly evolving. A recent report by Samsung shows that there is a need to safeguard every device by 2020. Samsung’s ‘Open Economy’ document argues, “There is a very clear danger that technology is running ahead of the game.” The complications involved with hundreds of detectors constantly collecting data within a single institution create innumerable complexities and technical challenges.

With no plan to analyse and protect such large amounts of data, issues of compatibility occur. Some organisations are slow to perform risk assessments due to fear of what they may find – the associated costs of addressing the vulnerabilities are often high. Once an organisation is made aware of a vulnerability, there is an increased pressure to mitigate.

It is critical to understand the progressive and sophisticated threats that cyberattacks represent to every aspect of a business. We must advance cyber threat detection capabilities and implement robust layered hardware and software protection for networks. (Read More)


The post Biometric IoT | Spying Appartatus | Protect Security Risks appeared first on Internet Of Things | IoT India.

Internet Of Things | IoT India