Security News > 2021 > March > Samsung Electronics, Mastercard and Samsung Card develop fingerprint biometric payment card

Samsung Electronics, 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.

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.

"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, vice president of " at Samsung Electronics.

"As consumers embrace the safety and convenience of contactless payments, Mastercard will leverage its cybersecurity and intelligence expertise and global payments network in this three-way partnership to enhance cardholder security with a biometric solution supporting fast, frictionless payment experiences that are protected at every point," said Karthik Ramanathan, Senior Vice President, Cyber & Intelligence Solutions, Asia Pacific, Mastercard.

"This biometric card is an example of Samsung Card's efforts to deliver innovative and convenient solutions to consumers," said Hanjoo Yoon, Vice President, Planning & Communication, Samsung Card.

Samsung Card will lead the roll out in South Korea, with plans to introduce the biometric card later this year.

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