Debit and credit cards to get fingerprint sensors soon

Mumbai: A major change is coming to how debit and credit card transactions are authenticated in India. Instead of using traditional PINs, customers may soon be able to use their fingerprints to complete transactions. The necessary technology is currently in advanced stages of development, and global pilot testing is already underway.

Mumbai-based Seshaasai Technologies, one of the leading companies that designs and supplies cards for banks and financial institutions, is developing this new system. According to the company's chairman and managing director, Pragnyat Lalwani, the goal is to prevent card-related fraud and enhance transaction security.

These cards will come with built-in biometric sensors that can read the user’s fingerprint. Transactions will only be approved after verifying the fingerprint of the cardholder.

Customers’ fingerprint data will be collected securely, either from bank branches or directly from their homes and embedded into the card. Without the registered fingerprint, no transaction can take place.

Leading global card service providers, including Visa, are already conducting pilot tests in regions such as Europe, Asia and North America. The tests are being carried out to identify any technical issues and ensure smooth usage before the large-scale rollout.

In addition to biometric authentication, companies are working on dynamic CVV technology, where the CVV number on the card changes periodically. This makes it much more difficult for online fraudsters to misuse stolen card information, offering another layer of security.

There are also plans to integrate blockchain technology into card systems. This would allow card ownership and identity to be verified through a secure, decentralised system, making cloning or duplication virtually impossible.

Seshaasai Technologies holds a 32% market share in India’s card manufacturing sector.