Samsung has announced that it will launch a biometric scanning payment card with a built-in fingerprint reader in partnership with MasterCard, media reported. Samsung Pay, a mobile payment service developed by Samsung Electronics, has long teamed up with MasterCard, the international payment company, to expand into Europe.
The technology appears to be similar to MasterCard’s biometric payment cards, which were launched in 2017 and can authenticate purchases without touching a keyboard, according to the report. However, Samsung said the card “will use a new security chipset from Samsung’s SystemLSI business, which integrates several key discrete chips, rather than using current MasterCard technology. “
Reports that the purpose of this is to reduce physical contact, improve security, since the user’s fingerprints are scanned directly from the card, rather than by using external POS machine equipment to reduce the risk of fingerprint leakage. Moreover, Samsung’s credit card is compatible with MasterCard’s authentication technology because it can be used on any MasterCard chip or POS terminal. Apple cards, on the other hand, are primarily intended for smartphones, but Apple also issues physical titanium cards, but since it doesn’t have a built-in fingerprint recognition chip, using Apple’s physical cards requires that code be entered into the POS machine.
MasterCard first introduced credit cards with embedded fingerprint sensors back in 2017. Initially tested in South Africa, the payments giant said it had plans to roll it out globally by the end of the year.
The Samsung and MasterCard cards will use the MasterCard system for settlement and point-of-sale purposes, but will be funded by Samsung Credit Cards. Samsung and Mastercard added that the card will not require a PIN code or signature authorization to conduct transactions. The card will be launched in South Korea later this year in a gradual process that will start with corporate cards with heavy international transactions. Samsung, however, did not say whether it would launch elsewhere. However, once the technology matures, Samsung should roll it out globally, the authors speculate.