Innovation at their fingertips
13th May 2019 - North West-based plastic card manufacturer, Nitecrest Group, is pioneering new biometrics technology, creating some of the first wave of fingerprint activated payment cards.
The Group manufactures banking and payment cards in a Visa and Mastercard secure facility, based in Lancashire, through its financial services operation, TagNitecrest. The introduction of biometrics to payment cards allows users to make contactless payments above the current threshold of £30, using a fingerprint identification panel.
Fingerprint card payments can be made at any existing Point of Sale terminal. The dual interface payment card uses the energy it needs from the payment terminal by means of NFC (Near Field Communication) technology.
TagNitecrest CEO Leeroy Pye says: “TagNitecrest are continuing to push boundaries and we are committed to researching and developing the latest payment technology. Biometrics combines the speed of contactless with the security of fingerprint identification.”
The convenience of biometric identification has been embraced by consumers, who are already familiar with the concept of using fingerprint identification to unlock a digital device or complete digital transactions. Whilst the roll-out of this technology in banking cards is in early adoption stages, it is expected to be on millions of units by 2023.
“With millions of payments cards in circulation we see a fantastic opportunity for our investment in this new technology.” adds Pye.
“The physical payment card market is definitely experiencing a resurgence in creativity and innovation. Challenger banks have the flexibility to be creative, from pantone coloured cards, coloured edging, metal cards and environmentally friendlier cards. The card suppliers are being challenged and TagNitecrest are excited to be up there, leading the way,” comments Ronnie Hart, Group Chairman at Nitecrest.