Money Carer, Tag Systems & Fingerprints Partner on Biometric Payment Card for Vulnerable People in the UK
May 13 2024 - 2:00AM
Money Carer, Tag Systems & Fingerprints Partner on Biometric
Payment Card for Vulnerable People in the UK
Money Carer, a UK-based national social enterprise focused on
providing secure money management services for vulnerable people,
has partnered with global card manufacturer Tag Systems and
world-leading biometrics company Fingerprint Cards AB
(Fingerprints™). The companies have created and launched a
biometric-enabled ‘carer card’, addressing barriers that have
traditionally restricted vulnerable people in the UK from accessing
financial services.
In 2010, Money Carer invented and launched the first ‘carer
card’ – a secure shopping card solution that enables carers to make
purchases for those they care for. The card system has since
evolved, offering balance limits, a sweep system, free ATM
withdrawals, and spending controls. Today, the Money Carer Card
supports hundreds of care providers and thousands of individual
carers across the UK and is also used by many local authorities and
law firms who are responsible for managing the finances of their
own vulnerable clients.
Prior to incorporating Fingerprints’ technology, the Money Carer
Card relied on the PIN as a means of authentication. Vulnerable
cardholders, or their carers, no longer need to remember and enter
a PIN to make a payment. They simply place their selected thumb or
finger on the sensor and tap to make the payment at the point of
sale. This simultaneously simplifies the checkout process while
enhancing security.
Sean Tyrer, CEO of Money Carer, comments: “At Money Carer, we
are absolutely committed to promoting inclusivity and autonomy. For
many of our clients, especially those with memory or visual
impairments, the PIN on a payment card is a barrier that restricts
financial inclusivity. With biometrics, our clients will never have
to remember or input a PIN again, opening doors to financial
autonomy that were previously closed.”
The next-generation carer cards come from Tag Systems, which
incorporate Fingerprints’ second-generation T-Shape® (T2) sensor
module, software platform and algorithm. Tag’s unique Biometric
Card as a Service (BCaaS) offering which includes payment
processing, allows Money Carer to issue the next generation cards
seamlessly. The cards will be available soon through the
Money Carer website and app. For each account with Money Carer, up
to five biometrics-enabled cards can be issued.
Adam Philpott, CEO of Fingerprints, comments: “Our primary
objective at Fingerprints has always been to make strong
authentication simple. We’re extremely proud to be part of a
project directly addressing barriers that have traditionally
restricted vulnerable people from accessing financial services.
This is a perfect example of how technology can be used to drive
inclusivity.”
Learn more about how biometric authentication is unlocking the
future of card payments here.
About Tag SystemsTag Systems, was created
in Andorra in 1999 and is now part of the Austria Card group of
companies.
Tag is a specialist provider of Fintech cards and associated
technology. Tag has two state of the art card manufacturing
facilities, and service bureaus in the UK, Poland, Spain and the
USA. Tag Systems has expanded its offer with biometric cards, metal
cards, Virtual cards and the integration of innovative solutions
such as payment processing into their portfolio.
About Fingerprints Fingerprint Cards AB
(Fingerprints) – the world’s leading biometrics company, with its
roots in Sweden. We believe in a secure and seamless universe where
you are the key to everything. Our solutions are found in hundreds
of millions of devices and applications and are used billions of
times every day, providing safe and convenient identification and
authentication with a human touch. For more information, visit our
website, read our blog, and follow us on Twitter. Fingerprints is
listed on Nasdaq Stockholm (FING B).
About Money CarerMoney Carer is the largest
provider of appointeeship services for vulnerable adults in the UK.
Founded in 2009, the organisation also provides banking and
payments services to court of protection deputyship teams for local
authorities and law firms via its proprietary banking and payments
platform. For more information, visit our website or listen to our
podcast.
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