Samsung, Mastercard Announce Biometric Card With Fingerprint Scanner for Secure Transactions
Samsung Cards will now come equipped with fingerprint readers to reduce contact at POS terminals. By Satvik Khare | Updated: 5 March 2021 15:55 IST
Photo Credit: Samsung
Highlights
Mastercard showcased a similar technology in 2017
Will reduce contact points at POS terminals
Samsung and Mastercard have agreed to collaborate on making card payments even more secure. They are going to incorporate a fingerprint sensor into Samsung Cards to reduce contact points at in-store payment terminals. Although this appears to be similar to Mastercard s Biometric Payment Card that was showcased a few years ago, the new cards will use a more secure chipset from Samsung s System LSI business. These new biometric cards can be used at any Mastercard chip or POS terminal.
Samsung and Mastercard are joining hands to make card payments more secure. The two companies are collaborating to incorporate a fingerprint sensor into Samsung Cards. They aim to reduce contact points at in-store payment terminals. It is similar to Mastercard’s Biometric Payment Card that was showcased a few years ago. However, these new cards will have a more secure chipset from Samsung’s System LSI business. They can be used at any Mastercard chip or POS terminal.
According to the press release, Samsung said that the biometric cards will “integrate several key discrete chips, streamlining the overall component design and enabling more efficient development.” Mastercard showcased a similar tech in September 2017 it its Mastercard Innovation Forum in India. These cards will adopt a new security chipset from Samsung’s System LSI Business, which integrates several key discrete chips. It streamlines the overall component design and enabling more efficient development.
04 March 2021 17:43 GMT
Samsung Electronics’ System LSI Business, Mastercard, Samsung Card, have signed a memorandum of understanding to develop a biometric card that features a built-in fingerprint scanner to authorize transactions securely at in-store payment terminals.
Through this strategic collaboration, the companies aim to provide faster and more secure payment experiences. The biometric authentication capability allows safer interactions with reduced physical contact points by eliminating the need to enter a PIN on a keypad. It also adds an extra layer of security to currently available credit cards by verifying the cardholder’s identity via a unique fingerprint.
The biometric cards will adopt a new security chipset from Samsung’s System LSI Business that integrates several key discrete chips, streamlining the overall component design and enabling more efficient development. These cards can be used at any Mastercard chip terminal or point of sale (POS) terminal.
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