Apple Isn't the Only Company Planning to Use Biometrics to Authorize Transactions

Since Apple announced yesterday that it will be rolling out Apple Pay on Monday, there is a new development in the payment realm. According to this article on TechCrunch, MasterCard plans to release a credit card that uses biometrics, similar to Apple’s Touch ID. Instead of manually entering a PIN, the user would use their fingerprint to authorize transactions.¶ The scanner on the card will be charged with the terminals while in use, so it does not require conventional charging. The card looks like a regular credit card and has the same dimensions. The only difference is that there is a fingerprint sensor embedded into the card. The fingerprint data is stored on the card and not transmitted to another location, so it is less likely to be intercepted and stolen.¶ This is expected to come out sometime in 2015. It will be rolled out in markets outside of the US first because it uses a chip, but who knows? If Apple Pay really takes off, and if retailers find it worth supporting, this card might become popular in the US as another way to pay. If there are few issues with Apple Pay, this just might become popular as well. We’ll see how this turns out.