Fingerprints Introduces Biometric Card Payments through Thales and Garanti BBVA Collaboration

Fingerprint Cards AB, a leading biometrics firm based in Sweden, has initiated the launch of Turkey’s first biometric payment card in collaboration with digital security company Thales. This milestone development integrates cutting-edge biometric technology into Turkey’s payment landscape, enhancing security and convenience for consumers, as highlighted in The Fintech Times.

The biometric payment card introduced by Fingerprints boasts several key features. Notably, it seamlessly integrates with existing bank infrastructures and Point-of-Sale (POS) systems, eliminating the need for extensive upgrades. Moreover, it has received certification from major EMV payment schemes, ensuring its compatibility and reliability within the payment ecosystem.

Partnering with Garanti BBVA, one of Turkey’s largest private banks, Fingerprints extends its innovative solution to a vast customer base. By incorporating Thales’ payment cards alongside Fingerprints’ biometric technology, Garanti BBVA empowers its customers to embrace secure contactless biometric payments effortlessly.

Adam Philpott, CEO at Fingerprints, emphasized the transformative impact of this collaboration, stating, «With our fast, secure and cost-efficient biometric payment sensor, our partnership with Thales is helping us drive innovation.» Philpott highlighted the increasing interest from banks, acknowledging the potential for enhanced customer acquisition, brand reputation, and fraud reduction.

The biometric sensor developed by Fingerprints operates seamlessly during transactions. Customers simply tap their contactless card on a payment terminal, initiating a swift authentication process that verifies their identity within a fraction of a second. This streamlined approach not only enhances security but also ensures a smooth and efficient payment experience.

Research indicates a growing acceptance and preference for biometric authentication methods. According to Visa, two-thirds of individuals find biometrics easier and faster to use compared to traditional passwords. Frost & Sullivan forecasts substantial growth in the biometrics market, projecting revenue to reach $54.97 billion by 2025. This trend underscores a global demand for enhanced security measures in payment systems.

Fingerprints’ collaboration with Thales and Garanti BBVA marks a significant milestone in Turkey’s payment landscape. By integrating biometric technology into payment cards, the partnership aims to redefine security standards while delivering unparalleled convenience to consumers.