With Apple releasing Apple Pay, it seems as though mobile payment is about to take off, but what about those who aren't yet ready to give up their cards? Is there a safer option?
Zwipe and MasterCard have announced a new contactless payment card, which also comes with a built-in fingerprint sensor.
"Our belief is that we should be able to identify ourselves without having to use passwords or PIN numbers," said Ajay Bhalla, president of enterprise security at MasterCard. "Biometric authentication can help us achieve this."
The new technology comes just as Apple is releasing its new Apple Pay mobile payment system, which uses near-field communication technology. The technology has been around for a while, with Google having released Google Wallet in 2011, although if Apple Pay ends up taking off then Google Wallet is also likely to see more adoption of the feature by Android users.
Despite this, not everyone is ready to adopt using their phone to make payments. Plastic cards really are not that hard to use, and most consumers likely aren't aware of the benefits that are related to privacy. It is for this reason that it will be interesting to see if Zwipe takes off.
One clear benefit is the fact that Zwipe is tailored specifically to users. Fingerprint data is stored directly on the device rather than an online database and the device is as thin as a normal plastic card. The makers of Zwipe did build a prototype with a battery pack, but found it to be too big and have since changed it to draw power directly from payment stations.
Zwipe has tested out the technology with Sparebanken DIN in Norway with rather positive results.
"Response to our pilot with Sparebanken DIN has been very positive. Cardholders love how easy the card is to use with the added security feature," said Zwipe founder and CEO Kim Humborstad. "We have also had exceptionally good reaction from retailers participating in the pilot. This pilot enabled the partners to gather valuable customer feedback, experience and best practice for the enrollment and deployment phase."
One thing that may draw in users is the fact that Zwipe is easy to use. All users have to do is tap it on a pay station, rather than swipe and enter PIN codes, then hold their thumb against the fingerprint ID on the credit card and wave it over a contactless payment station.
Zwipe will be released internationally starting next year, although there is no specific date yet as to when it will be available in the U.S.
