NatWest’s biometric fingerprint credit card developed and distributed in partnership with Mastercard and Gemalto has begun its three-month national trial in the UK. The credit cards are expected to allow for contactless payments with fingerprint verifications for transactions up to £100. The cards can be utilized at ATMs and for online shopping.

Howard Berg, Senior Vice president, UK Ireland and Switzerland of Gemalto, a Thales Company, said, “Biometric have a big role in the future of payments and we’re pleased that more NatWest customers will be the first to try out this simple, convenient and secure way to pay. Authenticating payments with a fingerprint isn’t just easy – it boosts security and opens the door to larger contactless payments. We’ll work very closely with NatWest as the trial progresses to address feedback from users and make sure they’re getting the best experience possible.”

According to the bank, the new card does not require any hardware changes and can be utilized at existing contactless as well as at Chip and PIN terminals. The registration process for the cards, as the bank stated, has been simplified and a customer can register anywhere using a plastic sleeve.

Georgina Bulkeley, Director of Innovation, NatWest said, “After the successful pilot of our biometric debit card we are looking to test the technology further with credit cards. This is the biggest development in card technology in recent years and not having to enter a PIN not only increases security but makes it easier for our customers when paying for goods or services.”

Recently, NatWest collaborated with Microsoft and AI solutions provider DreamQuark in a bid to leverage Artificial Intelligence for the prediction of financial market patterns and generation of insights through a new platform, Next Generation Complex Analytics.

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by Megha Bhattacharya
Market Analyst at IBS Intelligence
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