Biometrically authenticated payment cards are set to become the next biometric kit in the pockets of people around the world. Idemia is developing digital CVVs alongside on-card fingerprint sensors, Zwipe Pay ONE reaches the Middle East market with Inkript, and UK company Drayson Technologies has even changed its name to Freevolt after its technology that enables retrieval. energy for such cards.
Idemia experiments with dynamic CVV, digitizes biometric cards
Scanning of the physical card, dynamic CVV numbers and QR codes for payments are all underway at Idemia, said Eric Vernhes, CEO of Idemia Italy, during a video call with Bancaforte.
The French firm has seen an acceleration in the adoption of biometrics during COVID, and found the direction somewhat surprising. “We expected to move on to digitization and replace the physical cards, but that is not happening,” said Vernhes, “And what we are seeing is that the digitization of the cards comes in addition to what we already have – the physical card. “
Idemia continues to develop its payment cards with on-board biometrics. Biometrics are the most secure way to protect payments, says Vernhes, but biometric cards are still “tied to the physical world where we have contact.”
The firm “innovates and invests a lot” in online payment authentication solutions. He is working on technologies that comply with European PSD2 regulations, including dynamic CVVs (card verification values) which would be displayed on a screen on the back of the card and would change with each payment. QR code payments are also coming, common in Asia for several years.
Vernhes sees a global trend for unbanked people to enter the financial industry as new technologies emerge. In southern Europe the company issues more cards than in previous years and Italy itself is a special case with a large number of small banks. While Idemia would typically have no more than ten clients in a country, says Vernhes, in Italy they have around 50 because the industry has yet to experience consolidation.
In Italy, Idemia works with Bibanca of the BPER Group and members like Sassari, and maintains “strong relationships” with the “paytech” company Nexi, which provides cards to its customers.
Drayson makes the Freevolt brand its general name
Imperial College London spin-off Drayson Technologies (Europe) Limited has changed to Freevolt Technologies Limited and adopts the name of its product Freevolt. Freevolt is a radio frequency recovery technology that captures energy from NFC, WiFi and cellular frequencies. The technology can power biometric smart cards for payments, access control, and healthcare.
Freevolt recently developed benchmark designs for plug-n-play RF energy harvesting which they believe can deliver three times more power than technologies currently on the market.
The system was supported by Innovate UK to standardize the references and allow Freevolt to work on the development of its own biometric smart card, the S-Key without battery.
Lord Paul Drayson, President of Freevolt Technologies, said: “We are very pleased with the progress the Freevolt brand has made over the past 7 years. So it seems natural for the company to capitalize on this and encapsulate this fantastic brand, continuing to provide market-leading RF energy harvesting solutions that are 2-3 times more efficient than the nearest competitor. .
Inkript unveils biometric payment card powered by Zwipe
Inkript launched its first biometric payment card with live demonstrations at the Seamless Middle East 2021 event in Dubai, according to staff posts on LinkedIn. The Lebanon-based company manufactures the cards in Beirut using Zwipe Pay ONE technology.
Inkript’s recently announced commercial order was for $ 318,000, placed after the two companies formed a technical and commercial partnership in 2019 to bring Zwipe Pay ONE to the Middle East. The commercial deployment of payment cards is scheduled for 2022.
biometric cards | biometrics | Drayson Technologies | fingerprint recognition | fingerprint sensors | Freevolt | IDEMIA | payments | Zwipe | Zwipe Pay ONE