We are living in the future.
Mastercard has unveiled a new credit card with an integrated biometric security that makes purchasing in retail stores more convenient and secure. Of course, the inevitability of e-commerce is that there are fewer people who are making purchases at physical retail stores.
Still, this is welcome news. Any additional layer of security is obviously great, but how well this works exactly is still up in the air. The new cards are being trialed over in South Africa; Mastercard has also announced plans to continue trialing in select places in the Asia Pacific and some parts of Europe. A wide rollout is expected to happen at the end of the year, while the U.S. release is expected to hit sometime in 2018.
The new biometric Mastercard works by storing two fingerprints, which you will provide securely through your bank. Every purchase thenceforth will be easily validated by your fingerprint. Of course, if and when the card fails to recognize your print, you can always validate using a signature or a PIN.
As I’ve said, the future.