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The Future of Contactless Payments Could be in Our Veins

The Future of Contactless Payments Could be in Our Veins

Mastercard has recently launched the first European biometric card trial in Norway and Poland, with cards featuring a built-in finger vein sensor.

The finger vein sensor is a progression of the fingerprint scanner we're seeing in the likes of iPhone 6 and Samsung Galaxy S5 - enhancing the security process.

Scott Abrahams Mastercard's Group Head of Acceptance and Emerging Payments said the firm is trialling a number of ways to pay.

He said: "The [£20 transaction] cap is agreed across the UK between us, our partners and other card providers.

"We continue to work with everyone to see where [this £20 cap] can be increased. A limitless contactless transaction depends on us being able to make sure the user of the technology is the person it should be."

However, this won't be the only piece of technology that Mastercard will trial.

Abraham said: "That's just one way of validating the card user.

"We're trialling all sorts of other things. For example in Canada we've looked at heartbeat recognition, while in South Africa we've trialled retinal scanners."

According to Mastercard's latest statistics, contactless payments in 2014 are up 352% compared to the same period in 2013.


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