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Article 41 : La première carte de paiement biométrique arrive aux Émirats Arabes Unis grâce à l’association de la FAB et de la MAF

First Biometric Payment Card Launches in the UAE

The UAE’s main bank, FAB, (First Abu Dhabi Bank), joins the national retail chain, MAF, (Majid Al Futtaim), to launch the country’s first-ever biometric payment card with the state-of-the-art IDEMIA technology for maximum security during transactions.

The prominent fingerprint

Authentication via fingerprint has become ubiquitous in our lives: to unlock our smartphones or even check access to places under control. A report shows that 81% of consumers, from all over the world, agree to the use of their fingerprint during their transactions at points of sale. Also, the FAB bank and the MAF brand have decided to make improvements to the card payment experience through the launch of the very first biometric and contactless payment card in the country.

Cutting-edge technology from IDEMIA is on the rise

Due to IDEMIA’s F.CODE technology, the world’s first payment card using biometrics, users of this new payment method have the opportunity to authorize payments using the fingerprint sensor that is incorporated into their card. In order to guarantee confidentiality, these biometric data are stored securely in the chip and are inseparable from the card.

Fraud reduced to its bare minimum

The authentication of payments, thanks to fingerprints, makes it possible to eliminate almost all cases of fraud. In addition, the cardholder sees his points of contact decrease. This biometric card is 100% compliant with the EMV standard. As a result, customers will now be able to carry out contactless (or with) transactions in a secure and totally safe way, by simply holding their thumb on the sensor of their card during payment.

IDEMIA and ZWIPE co-investing in Disruptive Platform using Biometric Payment

Do you use contactless payment?

If you are used to contactless payment, the partnership to be described interests you. In the other hand, if you are not used, it’s an opportunity to know about this upcoming innovation.

Two  leading companies, IDEMIA and ZWIPE, in their respective segments, Augmented Identity and Payments Technology, have signed a partnership and distribution agreement for the development of a high tech disruptive payment platform. The companies are co-investing in this  platform combining biometrics and payment cards.

This shared vision between companies will significantly reduce the complexity and the cost of biometric payment cards, from design passing by operation and final production. The objective is to provide cutting-edge technology on payments with mass volume of cards. As a consequence the price related to biometric cards will drop considerably.

Technically, the number of components in the card will be reduced to ONE. A single chip will do the job of a secure element, a microcontroller and other thirty external components previously required on the PCB (Printed Circuit Board).

The biometric card allowing the replacement of 4 digits code to your fingerprint will take off after 2020. The new technology will be available in 2020, but high volume and affordability will happen in 2021.

One of the great impacts will be contactless payment without a maximum quote/ payment ceiling.

< This is a strategic, high profile project for IDEMIA. We are very excited about what this platform will enable in terms of market growth and the penetration of biometric payment cards. IDEMIA is delighted to partner with Zwipe, a company with a solid intellectual property portfolio and an expanding global customer network; we are confident that our new solution will command a leading position in the marketplace. >
Amanda Gourbault, Executive Vice-President for Financial institutions activities at IDEMIA

When the biometric card becomes available, Zwipe will have the right to commercialize it worldwide and provide to other manufacturers the solution in payment cards, wearables and other payment solutions. Idemia on its side has the ownership of the technology and will commercialize the FCODE solution, the already existing biometric card to Financial Institutions Customers.

Again Idemia is impacting the market with a disruptive solution, bringing the right partner to add value and drive a tremendous growth in biometric cards market.

<We are excited and proud to enter a significant partnership with IDEMIA, a prominent global industry leader. The platform represents a technological leap that will serve as a catalyst to enable full biometric payment card costs to come down significantly, driving mass volume market growth and complementing our current and future product portfolios. We look forward to bringing this platform to our customers to continue to shape the biometric payments industry.>
André Løvestam, CEO of Zwipe

Source:

https://www.idemia.com/press-release/idemia-and-zwipe-partner-offer-disruptive-biometric-payments-card-platform-2019-09-19