Samsung and Mastercard are teaming up to make card payments more secure. The two companies are working together to add a fingerprint sensor to Samsung Cards. They aim to reduce the number of points of contact at the payment terminals in the store. It’s similar to the Mastercard biometric payment card introduced a few years ago. However, these new cards will have a more secure chipset from Samsung’s System LSI business. They can be used on any Mastercard chip or POS terminal.
According to the press release, Samsung said the biometric cards “will integrate several key discrete chips, optimizing overall component design and enabling more efficient development.” Mastercard presented a similar technology in September 2017 at the Mastercard Innovation Forum in India. These cards will adopt a new security chipset from Samsung’s LSI Business system that integrates several important discrete chips. It streamlines the entire component design and enables more efficient development.
“With our strong background in security solutions in diverse applications such as passports, credit cards and mobile devices, we will work with Mastercard and Samsung Card to create an environment where consumers can enjoy payment card services with added security,” said Harry Cho, vice president of at Samsung Electronics.
“As consumers value the security and convenience of contactless payments, in this three-way partnership, Mastercard will leverage its cybersecurity and intelligence expertise, as well as its global payments network, to improve cardholder security with a biometric solution that supports fast, smooth payment experiences that are protected at every point, “said Karthik Ramanathan,” Senior Vice President, Cyber & Intelligence Solutions, Asia Pacific, Mastercard.
This Samsung card will lead the launch in South Korea. The introduction of the biometric card is planned for the end of this year.
I’ve been in the tech industry since 2014 when I created my first blog. I worked with Digit, one of the largest tech publications in India. I am now working as a news editor at Pocketnow, where I get paid to write about cutting-edge technology. You can contact me at [email protected]