Payment technology firm Mastercard and Edenred have initiated the first regional test of biometric card technology in Mexico.
Focused on state benefits programs, the biometric card features an embedded fingerprint sensor, which offers an additional layer of security to conveniently verify the cardholder’s identity for in-store purchases.
The biometric features can be deployed on any Mastercard card product, including credit, debit, prepaid. They will also work with existing EMV card terminals across the globe, enabling merchants to enhance the shopping experience without any hardware or software upgrades.
Mastercard Mexico and Central America president Jorge Noguera said: “This trial allows Mastercard and Edenred to support financial inclusion and implement new technology, in partnership with the Mexican state social welfare agency in Sonora, demonstrating the true value of public-private partnerships in delivering meaningful programs.
“By simplifying a typical purchase transaction, we can demonstrate that this technology works for the benefit of the people who need it the most and ensure that their disbursements are received securely.”
Launched in 2017, the Mastercard biometric card has been piloted in Africa, Europe and the Middle East. The company is also adding more countries to test the biometric card.
Biometric cards are said to offer various benefits to consumers, retailers and banks, including authenticating a payment transaction biometrically confirms in a very unique, simple way that the person using the card is the genuine cardholder.
The technology will help banks detect and prevent fraud while potentially increasing approval rates.
Issuers can leverage the biometric match data to optimize their approval rates and help minimize the potential of card-present fraud.
Benefit program providers can have more insight into user spending and show their commitment to technology and innovation, said the company.
Edenred México CEO Andrea Keller said: “We are very pleased to pioneer this biometric technology with Mastercard in Mexico. This trial provides significant opportunities in security and proof of identity for the user with the unique form of identification, the fingerprint.”