Bank of Cyprus has selected digital security provider Gemalto to supply the EMV biometric dual interface payment card for both chip and contactless payments.
The new card, which utilises fingerprint recognition to authenticate the cardholder, is compatible with the existing payment terminals in the country.
A transaction will be authorised after the cardholder fingerprint placed on the sensor matches with the reference biometric data stored in the card. The biometric sensor card do not have an embedded battery rather uses the payment terminal power to carry out the transaction.
All customers of the Bank of Cyprus need to complete an enrolment process at respective branches using Gemalto’s tablet designed for the solution.
Gemalto executive vice president for banking and payment Bertrand Knopf said: “Gemalto’s biometric sensor payment card is designed to provide maximum security and data privacy.
“Using biometrics for contactless payments is a natural move as it fits in naturally with the gesture used to pay. It allows a better user experience, enabling higher transaction amounts without entering a PIN while benefiting from the convenience of contactless.”
Bank of Cyprus card centre manager Stelios Trachonitis said: “In order to bring seamless authentication to the banking sector, Gemalto has leveraged its extensive expertise from secure government documents and leadership in biometric application.
“Our customers will benefit from this innovative payment solution with the peace of mind that their biometric data never leaves their hands.”