In a recent study, the United States was found responsible for 47 percent of the world’s credit card fraud. And in the near past, around 31.8 million of Americans had their credit card breached.
With these statistics in our minds, it is easy to decide that credit cards need to be better protected. We use our credit cards more often than we think. When we don’t have time to cash our checks, need a quick swipe or need something portable for a vacation, credit cards are super easy.
Although there are ways that are currently used to prevent credit card fraud, they are not foolproof.
The Mastercard credit card has taken this need to a whole new level with their newest feature: a fingerprint sensor.
Mastercard Credit Card: Taking Security to a New Level
You may be familiar with this way of payment thanks to mobile payments that are on the rise. This technology has seen extreme growth and makes purchasing online a quicker and safer process.
The Mastercard credit card uses this technology with a fingerprint sensor right on the card.
The credit card is the same size as a normal credit card. The card has a fingerprint sensor built into the bottom of the card. This makes it easy to use and hard to miss.
You may be wondering if the new card will still work with existing card and chip readers. The answer is yes. The new card works the same way the traditional credit card works, just with an added layer of security for the purchasing party.
Better Than a Pin
Although your pin may be quick and simple to use, it isn’t near as safe as your fingerprint.
It is true that experienced hackers can get anything they need to steal your information. However, your fingerprint is not so easily stolen.
A pin, a four digit code, is easy to remember but so easily forgotten about. Have you ever written your pin down somewhere, only to forget where you put it?
Hackers and anyone can find these pins and have access to your credit card.
A pin can also be guessed easily. Have you ever used your birth year as a pin? Or maybe the last four of your social? These are easy to access through the mail you throw away and places that might have this information on file for you.
How Will it Work?
The Mastercard credit card is currently being tested in South Africa. When the true rollout begins, the Mastercard credit card will be customized with your fingerprint.
For now, those who wish to use the card will need to visit an “enrollment center” where their fingerprint will be uploaded onto the card. Mastercard is allowing two different prints, however, they have to both be yours.
Only you will be able to use your card, no one else. Family members and spouses will need to have cards of their own in order to have access to the account.
The Mastercard credit card boasts added security that could change the face of credit itself. With a fingerprint sensor, the only way for a hacker to get access is through your finger – a foolproof method unless they can get it.
Don’t have time to cash your check? Maybe you need something handy to take with you for a weekend trip. The Mastercard credit card is perfect.
What do you think about Mastercard’s new advancement? Comment below!