In a context where global demand for contactless payments is booming, biometric cards are best placed to ensure secure, hygienic, and convenient payments. The exclusive partnership and distribution agreement between IDEMIA and ZWIPE aim to promote biometric cards as the reference for tomorrow’s contactless payments in India.
India has been quite receptive towards biometric authentication (as shown by Aadhar enabled payment’s success) thus F.Code (fingerprint authentication) Cards are definitely a payment cards technology to watch out for. According to a recent report, 75 percent of millennials in India are comfortable using biometrics today. Biometrics is the most secured authentication as only you can be you, hence it just makes sense to have a biometric authentication for the most important password, Bank Card password (PIN).
IDEMIA is all set to pilot the technology in India. This card with its most basic use case will ensure that the increased amount (Rs. 5,000) of contact less transactions can be carried out seamlessly in a convenient and secure way, thereby helping Banks and Fintechs build further trust with their customers.
The ICCN security certificate is a key milestone towards the next generation biometric card and confirms IDEMIA’s outstanding expertise in the field of payments and biometrics. IDEMIA’s biometric payment chip complies with the most demanding performance and security criteria for a safe and convenient payment experience.
Ready-to-roll-out in the second half of 2021, the new generation biometric cards, F.CODE Gen2 for IDEMIA, and ZWIPE Pay ONE technology platform for ZWIPE, will deliver state-of-the-art performance and security, as per market and schemes’ requirements. IDEMIA leverages its unique combination of payment, biometric technologies, and expertise to drive adoption, and accelerate market growth together with ZWIPE.
“With this new generation of biometric cards, we want to shape the future of payment and to offer an unparalleled and affordable technological experience, accessible to all. We are proud that IDEMIA’s cutting-edge technology can deliver a new, more secure user experience to the market. Our ambition is to make biometric cards a reality and more than ever, we are on the right track”, said Amanda Gourbault, IDEMIA’s Executive Vice-President Financial Institutions.
“The ICCN security certificate from EMVCo is an important step towards offering ZWIPE Pay ONE to our global customer network. This disruptive biometric technology platform, combined with our deep technical and market expertise, is what makes ZWIPE the natural One Stop Shop for all smart card manufacturers aiming to meet the soaring demand from issuers and consumers for a more convenient, truly contact free payment experience”, said André Løvestam, CEO of ZWIPE.
