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[Guest Report] KONA I to supply fingerprint-secured payment cards to Visa and Mountain America Credit Union

Mar 06,2018
KONA's advanced payment card supplied to Visa and Mountain America Credit Union.
KONA I is supplying its advanced electronic cards for a biometric payment card pilot in the United States with Visa and Mountain America Credit Union. The pilot utilizes cards with the ability to capture, store and validate the card holder’s fingerprint on the card.

The card, integrated with sophisticated Energy Harvesting technology, comes without a battery. It offers enhanced security over cards with no authentication technology, as payment transactions are only allowed only if the card holder's fingerprint is validated. Both contact and contactless payment are available.

Fingerprints offer an alternative to PIN and signatures, with the potential to make payments faster and easier. The solution is designed to be compatible with existing payment terminals that accept contactless or chip-based payments around the world.

According to Visa’s survey of 1,000 Americans about perceptions of biometric authentication before the pilot, 86 percent of consumers are interested in using biometrics for identification or payment, and more than 65 percent are already familiar with biometrics. Of all the biometric authentication techniques queried, fingerprint recognition ranked the highest (50 percent) in terms of desired payment authentication method for in-store usage.

KONA I, the leading company in Korea to introduce smart cards based on IC chips, has been focusing on the development of various electronic cards, including biometric payment cards, for several years based on authentication and security technologies. Last September, the company supplied fingerprint cards to AirPlus International, a corporate travel management company, a subsidiary of Lufthansa, Europe's largest airline.

Claus Hansen, vice president of global business, said, "We are pleased to have been selected for this pilot of next-generation payment cards. The collaboration with Visa is an important step in KONA I’s electronic cards development. It endorses our advanced technology and solutions and further strengthens our global leadership position.

“This is the starting point for KONA I's electronic card business. We expect advanced next-generation cards to perform well in all markets this year. ”

Kim Min-ji [kim.minji4@joongang.co.kr]