First Abu Dhabi Bank (FAB), the UAE’s largest bank, has partnered with region’s largest retailer Majid Al Futtaim (MAF), to launch the nation’s first biometric payment card using IDEMIA’s world-class technology delivering added safety and security to transactions.
From unlocking smartphones to gaining verified access to controlled locations, fingerprint authentication has become ubiquitous in our lives. According to a report, 81 percent of global consumers are ready to use their fingerprints for in-store transactions. In view of this, FAB and MAF are taking the lead to upgrade the card payment experience with the launch of the region’s first contactless biometric payment card.
Leveraging IDEMIA’s F.CODE, the world’s first biometric payment card, customers holding the new biometric payment card can authorize payments via a fingerprint sensor embedded into the card. To ensure privacy, the biometric data is securely stored in the chip and never leaves the card.
Using fingerprints to authenticate payments has the effect of eliminating almost all instances of fraud and minimizing touchpoints for the cardholder. The biometric card is fully EMV-compliant. Customers will now be able to conduct both contact and contactless transactions in a safe and secure manner just by holding their thumb on the card sensor whilst paying.
Hennie Du Plessis SVP Financial Institution IDEMIA MEA
“We are pleased to partner with the UAE’s leading financial institution, First Abu Dhabi Bank, and the UAE’s largest retail group, Majid Al Futtaim Group, to deliver a secured biometric payment solution that is contactless, convenient, and authentic. As a market leader in payment technology, IDEMIA strives to deliver high-quality products that reflect our clients’ commitment to excellence.”
Mr. Rudy Sudarsono, SVP & Head of Products, Cards at First Abu Dhabi Bank, said that “Innovations in biometric authentication represent a significant step forward in card security and protecting consumers from fraud, particularly as more people move to cashless payments for everyday purchases. By incorporating advanced fingerprint technology into the FAB SHARE cards, we can provide added confidence and safety for our customers, allowing them to enjoy the enhanced benefits of their store card with absolute peace of mind.”
“By launching the region’s first contactless biometric payment card, SHARE, in partnership with First Abu Dhabi Bank and IDEMIA, is manifesting this philosophy and fueling our desire to provide our customers with safe, secure and advanced solutions. The FAB SHARE card is a powerful representation of our efforts to enhance the customer experience of our three million SHARE members while working hand in hand with leading finance and technology institutions,” stated Ms. Kashmira Motiwalla, Loyalty Headat Majid Al Futtaim – Holding.
Thank you very much for choosing GCC Business News to be an important part of your professional life. You will receive a confirmation e-mail. Please check SPAM or UPDATES folder
