In a groundbreaking move which is set to bring increased security and convenience to consumers in Lebanon, Fransabank, the fourth-largest bank in Lebanon, in partnership with Mastercard, a leading technology company in the global payments industry has launched the first biometric card in the Levant.
The collaboration will provide Fransabank customers new cards with an embedded fingerprint sensor. Providing the same functionality as a traditional chip card, the innovative card features cutting-edge biometric authentication technology, which eliminates the need for cardholders to rely on their pin code or signatures to complete a purchase.
When making a purchase in-store, cardholders simply insert their card into the retailer’s terminal while placing their finger on a special sensor embedded on the card. The fingerprint must match exactly with the one on the cardholder’s records, to ensure a successful transaction.
Nadim Kassar, General Manager of Fransabank, said: “We are delighted to collaborate with Mastercard for the launch of our innovative new biometric card. Fransabank cardholders will be the first in the Lebanese market to benefit from the most advanced authentication technology available. Offering both unparalleled security and enhanced convenience, these new cards represent an outstanding value-added proposition for our customers. The deployment of biometric cards will be launched in phases to cover gradually all of our customer base.”
Somu Roy, Cluster Head, Levant, Mastercard: commented: “We are excited to introduce our new biometric cards to the Levant for the first time. This next-generation authentication solution is based on who you are, rather than what you know – a fundamental difference that brings new levels of security to each and every transaction, while at the same time simplifying the consumer’s payment journey. With more people indicating a preference for using biometric information to verify their identity, the roll out of this innovative technology reflects Mastercard’s commitment to fulfilling their needs, and underlines our leading role in driving change throughout the global payments ecosystem.”