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To: Hockeyfan who wrote (12378)	2/5/1999 2:35:00 PM
From: David	Read Replies (1) of 26039

Another press mention of Mastercard and fingerscans: Business Day (South Africa) February 5, 1999 ". . . MasterCard was developing a new fraud-fighting tool, a "finger minutiae" system. When fully implemented, it could save the financial services industry billions of dollars. "In this connection, MasterCard has undertaken an extensive study of biometric technologies which uses unique physical characteristics to identify cardholders. This technology matches a cardholder's fingerprint with an algorithm stored on a chip embedded in a card. Fraud thrived on anonymity, and verification of cardholders' identities through biometrics was one of the keys to reducing anonymity and combating fraud." ____________ The same article noted that Mastercard lost $499M to fraud in 1996, and only $426M last year. It comes out to 8 cents per $100 transaction. A Mastercard spokesman also estimated that 20% of its business would be conducted over the Internet by 2005.

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