All the fraud now concentrates on the third usage: the use of card credentials for online payments. With EMV technology at its most recent DDA authentication mechanism, card frauds at the POS and the ATM are declining to levels close to zero.
#EMV CARD SFI STRCUTRE CODE#
This new technology is convenient for the cardholder and means that banks no longer have to put a limit on contactless payments (as opposed to the current low spending limit/ no PIN code required). In addition, for issuers providing social benefits to their cardholder, fingerprint biometrics are a way to identify the cardholder with complete certainty. The payment card innovation marries biometric strong authentication and contactless, two of the most powerful forces currently shaping the consumer landscape. The main benefit of this new card is to use fingerprint biometric technology in lieu of a PIN code. What are the key security features? Do you think this will be able to cut down on credit card frauds? The ISO size is unchanged so that card can also be used at the ATM like a “normal” card.
#EMV CARD SFI STRCUTRE VERIFICATION#
The biometric sensor is compatible with all other features available on EMV cards such as Dynamic Code Verification or DCV. There is no biometric central database at the bank. It is very important privacy-wise: the cardholder, once enrolled using a secure tablet at the branch, keep his/her biometric with him/her at all time. The biometric reference data is securely stored in the chip on the card and all further biometric verifications will be performed locally inside the card. For added reassurance, the biometric card has the option of conventional PIN-based authentication, as an alternative protection for higher value transactions.
The card is powered from the POS terminal, eliminating the need for an on-board battery. Whether used in contact or contactless mode, the process is completely intuitive, ensuring a smooth experience. The fingerprint is instantly compared with the cardholder’s biometric data safely stored in the card. The biometric card includes the latest technology that allows cardholders to authorise transactions by using its built-in fingerprint scanner rather than entering a PIN. Recently you launched your contactless fingerprint biometric EMV card, how does that work and how different is it from its previous versions? SecurityMEA speaks with Xavier Larduinat, Head of Banking and Payment Innovation at Gemalto about the security features of its latest EMV card that comes with a biometric fingerprint reader.
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