U.K. Bank Tests Key Fob That Uses Fingerprint to Make Payments
U.K. bank NatWest is testing a payment fob that uses biometric fingerprint technology.
According to CNBC, the bank said 250 customers would take part in the trial, which will last three months. The fobs work with current Chip and PIN terminals and will allow users to carry out contactless transactions of up to £100 ($130) by using their fingerprint information to verify purchases, says the report. Users are able to upload their fingerprint details to the fob, registering their account via smartphone. NatWest claim the fob is no bigger than a keyring and it features a small fingerprint reader.
Earlier this year, NatWest carried out a trial on biometric credit and debit cards. NatWest says that biometric data was encrypted on the device and would never be shared with either the merchant or bank.
According to the report, NatWest has been working with Visa and Giesecke+Devrient Mobile Security to bring the technology to U.K. customers. Jeni Mundy, Managing Director, UK & Ireland, at Visa, told CNBC, “Our research tells us that people have a strong interest in biometric technologies which can make their lives easier as well as increasing the security of their payments."