IDEMIA, the global leader in augmented identity, has signed a deal with Rocker, a blue-chip Swedish FinTech and bank challenger, to enhance contactless payment security. IDEMIA’s F.CODE biometric payment cards will undergo a proof of concept with Rocker customers during the first quarter of 2021.
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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 mid 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.
IDEMIA, the global leader in Augmented Identity, provides a trusted environment enabling citizens and consumers alike to perform their daily critical activities (such as pay, connect and travel), in the physical as well as digital space.
Securing our identity has become mission critical in the world we live in today. By standing for Augmented Identity, an identity that ensures privacy and trust and guarantees secure, authenticated and verifiable transactions, we reinvent the way we think, produce, use and protect one of our greatest assets – our identity – whether for individuals or for objects, whenever and wherever security matters. We provide Augmented Identity for international clients from Financial, Telecom, Identity, Public Security and IoT sectors. With close to 15,000 employees around the world, IDEMIA serves clients in 180 countries.
For more information, visit www.idemia.com / Follow @IDEMIAGroup on Twitter
Rocker AB (publ) is a fintech company based in Stockholm, Sweden. Rocker’s vision is to become a leading bank challenger in Europe by making financial services easier to use and more affordable for regular people. Rocker offers services within loans, payments and savings. Rocker’s peer-to-peer payment services with buy now-pay later options included on Swedish classifieds leader Blocket, is offered through the brand Rocker Pay. The company is licensed as a payment institution in the EU and is supervised by the Swedish Financial Supervisory Authority. Schibsted and LMK are the largest owners of Rocker with 32 and 18 percent of the shareholding, respectively.