Tech industry urged to speed-up fight against fraud

NEWS CEO of Hypercom Georger Wallner is urging the technology industry to speed up the roll-out of biometric fingerprint technology that will dramatically upgrade protection against payment card fraud. Speaking at the Cartes show in Paris, Wallner said that the industry seriously needs to pull its finger out for a quicker and wider adoption of fingerprint-based Smart Cards. Wallner said: "The industry needs to take control of fraud sooner. We feel that in many regions Smart Cards will not arrive soon enough to effect fraud. Therefore there is a need for a technology that can prove positive ID for both Smart Cards and existing magnetic stripe cards. During the past two years fingerprint-based ID verification technology has become simple and cost effective costing only as little as 25 cents per card per year."