In a groundbreaking move which is set to bring increased security and convenience to consumers in Lebanon, Fransabank, the fourth-largest bank in Lebanon, in partnership with Mastercard, a leading technology company in the global payments industry has launched the first biometric card in the Levant.
The collaboration will provide Fransabank customers new cards with an embedded fingerprint sensor. Providing the same functionality as a traditional chip card, the innovative card features cutting-edge biometric authentication technology, which eliminates the need for cardholders to rely on their pin code or signatures to complete a purchase.
When making a purchase in-store, cardholders simply insert their card into the retailer’s terminal while placing their finger on a special sensor embedded on the card. The fingerprint must match exactly with the one on the cardholder’s records, to ensure a successful transaction.
Nadim Kassar, General Manager of Fransabank, said: “We are delighted to collaborate with Mastercard for the launch of our innovative new biometric card. Fransabank cardholders will be the first in the Lebanese market to benefit from the most advanced authentication technology available. Offering both unparalleled security and enhanced convenience, these new cards represent an outstanding value-added proposition for our customers. The deployment of biometric cards will be launched in phases to cover gradually all of our customer base.”
Somu Roy, Cluster Head, Levant, Mastercard: commented: “We are excited to introduce our new biometric cards to the Levant for the first time. This next-generation authentication solution is based on who you are, rather than what you know – a fundamental difference that brings new levels of security to each and every transaction, while at the same time simplifying the consumer’s payment journey. With more people indicating a preference for using biometric information to verify their identity, the roll out of this innovative technology reflects Mastercard’s commitment to fulfilling their needs, and underlines our leading role in driving change throughout the global payments ecosystem.”
### About Mastercard:
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Mastercard Communications Contact Omar Abuhanoud, +971 4 563 8603 [email protected]
Fransabank was established in 1921 and is registered number one on the list of banks operating in Lebanon. It operates through the largest branch network in the country (124) and has an international presence in nine countries in addition to Lebanon, including the MENA region, Europe and Africa. Fransabank is one of the leading banks in Lebanon, ranking fourth in total assets and customer deposits and third in net loans to customers. It offers a large product line including retail, corporate, investment, private and insurance. Fransabank has been partnering for more than 20 years with prominent development banks and international financial institutions.
Media contact – Fransabank
Dania Kassar, Head of Marketing and Corporate Communication Department
Tel: + 961 1 340 180 Ext. 1298
Email: [email protected]
Source: Fransabank Group