NatWest unveils its new biometric fingerprint-based bank card

  • The innovative biometric bank card would allow users to carry out transactions above £30 without having to use their PIN.

  • The company is working closely with Visa, Mastercard and digital security firm, Gemalto to provide this service to customers across the UK.

National Westminster Bank (NatWest), a major London-based retail & commercial banking company, has reportedly announced that it has launched a new, innovative fingerprint-based biometric bank card.

Reports cite, NatWest customers may now be able to use their fingerprints to carry out transactions above £30 without having to use their PIN. The new feature greatly improves the level of security while also making it easier for NatWest customers to make payments for different goods or services.

According to a report by the Daily Mail, NatWest worked closely with Visa, Mastercard and Amsterdam-based digital security firm, Gemalto to facilitate this service to customers across the UK. Gemalto, who has been working on this innovative technology for a long time, claimed that authenticating a payment using a fingerprint is considerably more secure than the standard four-digit PIN.

According to a statement by NatWest, the user’s fingerprint can easily be registered onto the card. However, once a fingerprint is registered, it cannot be modified or changed. The statement added that the fingerprint is not stored centrally but is stored on the card & a transaction is authenticated using encrypted data stored on the card.

The Head of Payments at NatWest, David Crawford stated that the bank is using the very latest of technology in an effort to make banking easier for NatWest customers & Biometric fingerprint bank cards are one of the many technologies the bank is exploring further. Crawford further added that it is the largest development in card technology in recent years & it is quite satisfying to see this technology in NatWest customers’ hands.

Apart from incorporating a contactless functionality, the fully-integrated NatWest bank card can also be used as a conventional card to withdraw cash from ATMs or post offices and for digital banking as well.

Source Credit:  https://www.crowdfundinsider.com/2019/04/146756-natwest-announces-new-biometric-fingerprint-card/