The Plastic Card company and its partners presented an innovative biometric bracelet at FinovateSpring 2018
On May 8, at the international FinovateSpring 2018 exhibition in San Francisco, the Plastic Card Company along with its partners - the PrivatBank
team and the Ukrainian start-up MAWI Solutions presented an innovative product - a biometric payment bracelet MAWI Pay
with Mastercard payment contactless technology.
The new service makes it possible to authenticate the owner of the bracelet using an electrocardiogram. The uniqueness of this device is that only the owner of the bracelet can pay by using it at retail outlets, and if it is worn on the hand of another person, the "smart" device will recognize this and disable the payment function.
"We have done a substantial research to make sure that the ECG is a unique biometric identifier, which means that the curve you see on the ECG recording (tape) is unique to each person. Our algorithms have learned to determine with high accuracy a person by just a few strokes of the heart. The quality of recognition is not affected by physical activity, nor changes with the age of a person, nor under stress. We spent more than a year to ensure that the technology was robust to all of the above factors, and accuracy was comparable to fingerprint accuracy and other biometrics," says Ron Friedman, CEO of MAWI Solutions.
"Since 2009, the Plastic Card Company has been one of the very few companies in the world that are certified by international payment systems VISA International and Mastercard for the production of EMV chip cards using their own software," says Maxim Komisarenko, Business Development Manager of the Plastic Card Ltd, "The use of the PECTORAL OS provides better protection against fraud, reduces transaction time and increases the capacity of banks and other financial institutions in the area of payment systems".