Typically, MasterCard credit cards work like any other: they have a chip that contains ownership information, a magnetic strip that allows ATMs and payment terminals to read it, the card number, a security code for online payments, and a token code for online banking transactions.
The latest card, however, has two new features, designed in partnership with Zwipe, a company specializing in biometric technology. MasterCard has managed to integrate a fingerprint sensor into the new cards, aiming to maximize transaction security.
All account data is stored on the card itself, instead of an external database, and to use it, you simply place it on the terminal and place your thumb on the sensor. The card will do the rest. No more waiting in lines, waiting for other customers to enter their pin or sign.
The “Zwipe” MasterCard is expected to debut next year (2015) and the technology will likely be adopted by VISA, Discover, American Express and other payment companies.
