Visa testing biometric verification

Hey, this caught my eye yesterday, an announcement by Visa -> Visa Introduces EMV Chip-based Biometrics. Visa is teaming up with ABSA here in Mzansi (why not, for sho!) with biometric cardholder verification. That is fancy for fingerprint technology. So as far as I understand it from the release, you will stick your card into the ATM and instead of being asked for a pin, you will place your fingerprint there and hey presto, the cash will come out of the machine. It will verify that you indeed are the person who owns the bank account and the funds are yours. No more hands covering the pin pad, nobody can steal your fingerprints. Hopefully very soon the card itself will be nowhere, Apple Pay and Android Pay (its newer, check it out: Android Pay) can solve the physical card issue.

The release fleshes it out more and explains why this is important in emerging markets: "Absa Bank, a wholly-owned subsidiary of Barclays Africa Group, will be the first to use Visa's specification to develop a proof of concept trial beginning this fall. Cardholders will use fingerprint readers at select Absa-owned ATMs in lieu of a PIN to complete transactions. In order to prevent potential fraud as well as encourage easier access to banking, there is strong interest in biometric solutions in South Africa and other developing countries where banking and electronic payments may still be nascent."

I am sure the people understand their fingerprints better than a pin number, or not, have I got that wrong? Either way, payment technology is moving fast, full steam ahead. I still think that the entrenched networks and methodologies will evolve to adapt and meet market demand. Whilst at the fringes other technologies will evolve, like Bitcoin etc. those are priced in Dollars last I checked, not so?