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Money Carer, Tag Systems, Fingerprints launch biometric carer card

Monday 13 May 2024 15:24 CET | News

Money Carer, in collaboration with Tag Systems and Fingerprints, have introduced biometric-enabled 'carer cards' to improve financial access for vulnerable people in the UK.

 

Money Carer, a UK-based social enterprise, has teamed up with Tag Systems and Fingerprint Cards (Fingerprints) to introduce a biometric-enabled 'carer card'. This collaboration aims to break down barriers hindering vulnerable individuals in the UK from accessing financial services. By leveraging biometric technology, the card offers a secure and simplified solution for money management, catering specifically to the needs of vulnerable populations.

Money Carer, in collaboration with Tag Systems and Fingerprints, have introduced biometric-enabled 'carer cards' to improve financial access for vulnerable people in the UK.

Evolution of the Money Carer Card

In 2010, Money Carer invented and launched the first ‘carer card’ – a secure shopping card solution that enables carers to make purchases for those they care for. The card system has since evolved, offering balance limits, a sweep system, free ATM withdrawals, and spending controls. Now, the Money Carer Card supports care providers across the UK and is also used by many local authorities and law firms who are responsible for managing the finances of their own vulnerable clients.

Prior to incorporating Fingerprints’ technology, the Money Carer Card relied on the PIN as a means of authentication. Vulnerable cardholders, or their carers, no longer need to remember and enter a PIN to make a payment. They simply place their selected thumb or finger on the sensor and tap to make the payment at the point of sale. This simultaneously simplifies the checkout process while enhancing security.

Innovating with Tag Systems and Fingerprints

The next-generation carer cards come from Tag Systems, which incorporate Fingerprints’ second-generation T-Shape (T2) sensor module, software platform and algorithm. Tag’s unique Biometric Card as a Service (BCaaS) offering which includes payment processing, allows Money Carer to issue the next generation cards seamlessly. The cards will be available soon through the Money Carer website and app. For each account with Money Carer, up to five biometrics-enabled cards can be issued.

Representatives from Money Carer explained that they are committed to promoting inclusivity and autonomy. For many of their clients, especially those with memory or visual impairments, the PIN on a payment card is a barrier that restricts financial inclusivity. With biometrics, their clients will never have to remember or input a PIN again, opening doors to financial autonomy that were previously closed.

Officials from Fingerprints said their primary objective has always been to make strong authentication simple. They’re happy to be part of a project directly addressing barriers that have traditionally restricted vulnerable people from accessing financial services. This is an example of how technology can be used to drive inclusivity.


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Keywords: biometric authentication, debit card, product upgrade, spend management
Categories: Payments & Commerce
Companies: Fingerprints, Money Carer, Tag Systems
Countries: United Kingdom
This article is part of category

Payments & Commerce

Fingerprints

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Money Carer

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Tag Systems

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