Samsung and Mastercard collaborating to develop fingerprint payment card

The two companies say it adds an extra layer of security to currently available credit cards

Samsung has announced that it’s working with Mastercard to create a biometric scanning payment card with a built-in fingerprint reader.

The tech giant says the card will add speed, security and safety to contact-less authentications. The collaboration aims to use biometric authentication capabilities to allow for safer interactions and eliminate the need to enter a PIN.

Further, the two companies say it adds an extra layer of security to currently available credit cards by verifying the cardholder’s identity through 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,” Samsung stated in a press release. 

The tech giant says the adoption of the card will be a gradual process and that it will begin with corporate credit cards.

“Drawing from our strong security solution background in various applications such as passports, credit cards and mobile devices, we will work with Mastercard and Samsung Card to create an environment where consumers can use payment card services with an added peace of mind,” said Harry Cho, the vice-president of engineering at Samsung Electronics.

With the launch of alternate forms of payment such as Apple Pay and Android Pay in Canada, people are becoming accustomed to advanced methods of checking out, so it’s not surprising that Samsung is testing new tools. Samsung’s new card will launch in South Korea later this year, but it’s unclear it will ever come to Canada.

Source: Samsung 

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