An Unbiased Review Of Business Credit Cards : Business Credit Card Site.com

As technology advances, banks and credit card companies also continue to find new and better payment systems that do not only provide purchasing power and convenience, but protection against fraud and identity theft as well.

Fingerprint Cards?
Have you heard about fingerprint cards? What is this new system and how does it work? Can fingerprint payment be really the solution to fraud?

Fingerprint payment system was introduced in 2002, at a supermarket called Thriftway in Washington. Customers were first asked to register their profiles and their credit cards. Those who have registered were able to pay using their fingerprints in accessing their profile. Since no two fingerprints are the same, this system hopes to eliminate the risk of credit card fraud and unauthorized transactions.

After three years, Paul Kapioski, president of the Thriftway Supermarket announced the trial to be a success. As can be expected, many were excited to try out this new payment system, particularly business owners from various States. According to Mr. Kapioski, this payment system makes use of “biometrics” and in the short span of two years that it’s been used, not a single case of fraud was reported.

Are they safe?
Nevertheless, the issue of submitting personal information in order to use this payment system still makes the public somewhat doubtful. The concern on whether you can trust the company who handles all your personal data is put into question.

In connection with this experiment, Carlab Aps has chosen Fingerprint Cards to develop a biometric credit card system. Fingerprint cards will look like regular credit cards but will be equipped with biometrics for added security. The biometric system will be embedded in a card so that each time the card holder wants to use it for payment, he or she will have to confirm the biometric information in his card though his fingerprints. Special sensors were created to perform the fingerprint scanning to make the system work.

Each time the card holder wants to shop he can simply have his fingerprint scanned to activate his credit account. Thus, if your credit card is stolen, no one except you can use it for any kind of payment. Indeed, this is a very promising technology that is still being perfected.

Perhaps it is still too early to say whether fingerprint cards will be the ultimate solution to credit card fraud. There are challenges on the use of this payment system that still needs to be worked out. Nevertheless, it is great to know that development is constantly being sought to protect consumers against credit card related problems.