Indian bank Transcorp has announced that it will launch its own biometric card offering through a partnership with Fingerprints.
The financial institution will utilise Fingerprints’ proprietary ‘T-Shape module’, tailored for integration into payment cards during a standard automated manufacturing process.
Michel Roig, President of Payments & Access at Fingerprints, commented: “We are pleased to collaborate with Transcorp, to bring state of the art contactless biometric cards to Transcorp’s customers.
“This collaboration will bring consumers in India a more secure, fast, and convenient payment experience. We see huge potential in India and the APAC region since contactless payment transactions have been increasing year-on-year.”
Head of PPI Business at Transcorp, Ayan Agarwal, added: “In the spirit of financial innovation and payments security, we are thrilled to collaborate to launch India’s first contactless biometric authenticated card.
“This will further expand offerings to over one million Transcorp customers. Delivering this project required the approvals of many entities, which Transcorp was able to secure in record time. This reinforces continuous successful efforts to enable Transcorp’s fintech partners to achieve their desired milestones by aligning stakeholder deliverables.”