Throughout the pandemic, world demand for contactless payment solutions has been skyrocketing. Bank challenger Rocker, a top-class Swedish FinTech with Schibsted as its largest shareholder, has teamed up with IDEMIA, the global leader in Augmented Identity, to carry out their first ever-biometric card proof of concept in Northern Europe. Payments with the card are fingerprint-checked in store.
The F.CODE payment card adopts a user-friendly biometric authentication procedure making transactions quicker, more hygienic and more secure as cardholders no longer need to enter a PIN or sign, thereby reducing touch points in public places.
This IDEMIA-developed groundbreaking solution harnesses biometric technology and ensures security by storing all biometric credentials only in the chip on the card, rather than in a remote database. The battery-free card that will be rolled out in 2021 after the proof of concept is powered by the payment terminal and is designed to be user-friendly.
Rocker leads the field among Swedish FinTechs in terms of innovation. Rocker aims to offer the F.CODE card as a new service in its comprehensive and growing offering of retail financial services that are easier to use, more flexible and better priced. The proof of concept will be completed by the first quarter of 2021.
“We are proud to partner with Rocker and to shape the future of payments, hand in hand with a FinTech at the cutting edge of innovation. We are delighted to ensure an innovative yet seamless experience to Rocker’s customers thanks to the use of biometrics”, said Amanda Gourbault, IDEMIA’s Executive Vice-President Financial Institutions.
“As a bank challenger, we are constantly testing new technology to develop smarter financial services that are easier to use and that help our customers improve their everyday financial lives. We are moving at a high pace to provide new and attractive innovations to customers. Launching biometric F.CODE debit cards is part of our strategy to offer smart and secure payment solutions across platforms, whether you wish to pay with your mobile, a card or with a transfer. In doing so, we are first in Sweden and one of the first in the world to offer this payment technology for consumers”, said Jonas Hultin, Chief Product Officer and one of Rocker’s three founders.