I am wondering what other Monzonauts think about this:
When a criminal or a person that is not the rightful card owner tries to scan his finger on the sensor, the match between the scanned finger and the stored fingerprint fails and the secure cpu signal “fraud detected” to the smart microcontroller that immediately stop any communication with the contact or contactless reader.
This seems weak particularly. I’ve had plenty of times when fingerprint scanner on my phone failed to match. I’m assuming it allows few attempts before frying the card… Without any details how reliable scanner is, I don’t think I would trust it enough.
Fingerprint seems to be reliable, but is it really? It didn’t take long to fake fingerprint on ios.
Might be unreasonable, but I’m afraid it could encourage thief to cut off my finger. Since thief wouldn’t be sure what thumb I used, I might even lose more than one. And opposable thumbs are really dear to me, my right one is responsible for doing ‘back’ on mouse, I really need it.
And last, but not least, I will get a refund if my card is stolen, so I don’t necessarily go crazy for card security. Yeah, I would like to save myself from hassle and problems, but if I know that my card is stolen, and I report it quickly, not a lot of damage can be made in the first place. Monzo did change that, because I will know a lot sooner when my card is misused, it’s very likely that thief would only commit 1-2 fraud transactions before I’d notice in normal situation.
TL;DR version: nice concept indeed, but I’ll pass.
We’ve already got a device that recognises your fingerprint and has a screen. It’s a smartphone. Adding these features to a card just increases their cost to produce. Not sure where Mastercard are going with this but it’s a solution for which a better answer already exists. Really can’t see it taking off beyond a trial.
Not everyone wants to lug a phone around all the time and may just want a card in a wallet/purse, also these cards can be used while your phone battery is dead or on charge