The new payment cards, manufactured by Valid, will feature Fingerprints' second-generation T-Shape (T2) sensor module and software platform.
Despite the growth of contactless payment growth in Brazil since the pandemic, there are still consumer concerns around security. The region’s preference for contactless, combined with its familiarity with biometric technology, demonstrates the ecosystem’s readiness for the next generation of payment cards.
Brazil’s National Monetary Council Resolution 3694/09 showcased that financial institutions must ‘ensure the integrity, reliability, security, and confidentiality of transactions, services, and products. By leveraging a biometrical characteristic to authenticate payments, new levels of security are achieved for payment cards. This can help banks align with regulation and reduce in-store payment fraud, and the associated costs of both. Banks that lead the way in payment innovation are also afforded an attractive brand image.
Officials from Fingerprints said that Brazil and the wider Latin America region is increasingly being recognised as a hub for payment innovation. They’re happy that Fingerprints can support Valid in adding this biometric payment card to its product portfolio. The card’s high level of security will help reduce fraud while enhancing the user experience, thereby aiding banks in customer acquisition. They anticipate that several banks in the region will soon adopt biometric payment technology.
Valid makes the digital life more secure with solutions that ensure security-based technologies for document identification, mobile security, SIM cards, digital certifications, banking applications, transportation services, and anywhere else client data is located.
With 6,000 employees in 16 countries, they take into account the particularities of each culture and region to create customised and integrated solutions, making Valid a relevant global player when it comes to online lifestyle. Their ability to safely identify objects, transactions and people makes the company one of the largest issuers of identification documents in Brazil, the fifth largest producer of SIM Cards in the world, and one of the top 10 global manufacturers of banking cards.
Fingerprint Cards is a biometrics company, with its roots in Sweden. They believe in a secure and seamless universe, where people are the key to everything. Their solutions are found in hundreds of millions of devices and applications, and are used billions of times every day, providing safe and convenient identification and authentication with a human touch.
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