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FIN VS PIN (12/18/01)
FULL STORY:
Punching a PIN to use a debit card may soon be replaced by biometrics. A
major
credit card terminal manufacturer last week unveiled a new system
that utilizes fingerprint-derived identification technology at the
point-of-sale
that does not infringe upon individual privacy. The new Hypercom system
employs
a finger-scanning pad connected to the payment card terminal, which is used to
create a digital vector from the image of the fingerprint. The vector is a
256-byte value which, when coupled with the card number, provides an extremely
reliable and foolproof method of identity verification. The vector generation
process is one-way, making it impossible to re-create the fingerprint from the
vector. Fingerprint images are never transmitted from the terminal, nor are
they stored in a database. Unlike fingerprints, the vectors are not unique.
This is not unlike PIN codes, which at four digits only have 10,000
combinations, resulting in many people having the same PINs. It is the
combination of the card number and PIN, or in this case, the fingerprint
vector, that is unique. The result is a system that allows positive identity
verification without actually knowing the unique fingerprints of consumers.
Hypercom says tests have shown that online transaction times are increased by
1.5 to 3 seconds when they include the fingerprint-derived vector. Merchants
will have to shell out about $100 per terminal to upgrade to the system. For
more information visit
http://www.hypercom.com.
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