The Indian smart card manufacturer M-Tech Innovations is teaming up with Fingerprint Cards (FPC) to bring biometric payment cards to India. To that end, M-Tech will use a standard manufacturing process to produce cards featuring FPC’s T-Shape fingerprint sensor module.
The two companies are hoping that the secure technology will allow financial institutions to lift the payment cap for contactless transactions, which currently sits at Rs 2,000. Contactless payments are more sanitary than touch-based alternatives like cash and keypads, since customers do not need to make physical contact with a shared surface.
“We selected Fingerprints since they have the leading technology in the market, with proven biometric performance and the lowest power consumption,” said M-Tech CEO V. M. Gandhi. “Introducing biometric payment cards will offer great benefits for both banks, merchants and consumers as contactless payments in India is growing fast.”
“This is an important collaboration to bring consumers in India a more secure, safe and easy payment experience,” added FPC Payments and Access SVP Michel Roig.
FPC’s T-Shape sensor module was developed specifically for smart card applications, and is part of the company’s FPC1300-series. The company recently released an updated T2 version of the sensor that received BCTC certification earlier this month.