IDEMIA, a global identity company and Rocker, a Swedish fintech and bank challenger, have partnered together to enhance contactless payment security by offering IDEMIA’s F.CODE biometric payment card, according to a press release. The card will undergo a proof of concept with Rocker customers during the first quarter of 2021.
The F.CODE payment card uses a biometric authentication procedure to make transactions quicker, more hygienic and more secure. Cardholders will no longer need to enter a PIN or sign deposit or withdrawal slips, which will reduce touchpoints in bank lobbies and public places.
This debit card utilizes biometric technology and ensures security by storing all biometric credentials in the chip on the card, rather than in a remote database. The battery-free card will be rolled out mid 2021 after the proof of concept is powered by the payment terminal.
“As a bank challenger, we are constantly testing new technology to develop smarter financial services that are easier to use and that help our customers…. Launching biometric F.CODE debit cards is part of our strategy to offer smart and secure payment solutions across platforms, whether you wish to pay with your mobile, a card or with a transfer. In doing so, we are first in Sweden and one of the first in the world to offer this payment technology for consumers,” Jonas Hultin, chief product officer and a co-founder of Rocker said in the release.