• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Our Services
  • Contact Us
  • Newsletter
  • Top Nav Social Icons

Mobile ID World

Mobile ID World

Identification Revolution

  • Mobile ID
    • What Is Mobile ID?
    • Identity Associations
    • Premier Partners
    • FAQ
  • News
  • Solutions
    • Behavioral
    • Facial Recognition
    • Fingerprint Biometrics
    • Iris Biometrics
    • Second Factor
    • Smart Cards
    • Smartphones
    • Vital
    • Voice
    • Wearable Tech
    • Other
  • Applications
    • Access Control
    • Cloud Technology
    • Commerce
    • Enterprise
    • Healthcare
    • Identification
    • Internet of Things
    • Law Enforcement
    • Strong Online Authentication
  • Exclusive
    • Interviews
    • Featured Articles
    • Podcasts
  • Companies
  • Events

Mastercard, Samsung Team Up On Biometric Payment Card Solution

March 5, 2021

Samsung Electronics is entering the biometric payment card space after signing a Memorandum of Understanding with Mastercard and Samsung Card. The new offering will be accepted at Mastercard payment terminals, and will feature a new security chipset from Samsung’s System LSI Business division.

Mastercard, Samsung Team Up On Biometric Payment Card Solution

The card itself will use fingerprint recognition to verify the identities of card holders. As with other biometric cards, the fingerprint sensor will be embedded on the device, and will negate the need for a PIN when authorizing purchases. The chipset, meanwhile, is built with several discrete chips that are designed to make the card more efficient.

The biometric payment card will debut in South Korea, and will initially be offered to corporate clients that are more likely to use the cards to make international purchases. Samsung Card will be spearheading the launch, and will begin issuing corporate cards to South Korean customers sometime later this year.

“As consumers embrace the convenience of contactless payments, Mastercard will leverage its cybersecurity expertise and global payments network to enhance cardholder security with a biometric solution supporting fast, frictionless payment experiences that are protected at every point,” said Mastercard Asia Pacific Cyber & Intelligence SVP Karthik Ramanathan.

“Drawing from our strong security background in 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,” added Samsung Electronics Engineering VP Harry Cho.

Samsung has already introduced a Samsung Pay Card for users of its Samsung Pay mobile payments platform. That card debuted in the US in July of 2020, before heading to the UK one month later.

Mastercard, meanwhile, has suggested that COVID-19 has accelerated the demand for contactless payment options. The company has also partnered with IDEMIA and MatchMove to conduct a separate biometric card trial (and biometric card launch) in the Asia Pacific region.

–

(Originally posted on FindBiometrics)

Filed Under: Industry News Tagged With: Biometric, biometric payment cards, biometrics, Fingerprint biometrics, fingerprint recognition, FinTech, MasterCard, Memorandum of Understanding, MoUs, Samsung

Related News & Articles

One Identity Acquires IAM Specialist OneLogin

Samsung Updates User Interface on Older Galaxy Watches

Major Mobile Biometrics Vendor Sees Supply Chain Issues Easing in Quarterly Update

Primary Sidebar

Learn About Mobile ID and Aviation

Tweets

Sponsored Links

facetec logo

FaceTec’s patented, industry-leading 3D Face Authentication software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ make trusted, remote identity verification finally possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for Liveness and 3D Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

FACEPHI is a global leader in Facial Recognition technology and in Mobile Biometrics technologies. With a strong concentration in the financial sector, FacePhi’s product is rapidly becoming a service used by banks all over the world. Its implementation doesn’t just save money, it is also a way to attract clients and build loyalty, while increasing the security of transactions for both the customer and the business. To learn more about FacePhi, visit https://www.facephi.com/en/

Recent Posts

  • Nordic-Baltic Ministers to Push for Cross-Border Digital ID Interoperability
  • 1Password Rolls Out Passkey Support for iOS Users
  • Somalian Government Launches Digital ID System
  • Philippines Authorities Aim to Roll Out Mobile IDs By Year’s End
  • Ethiopian Authorities Enroll Students in Biometric Digital ID Program

Footer

  • About Us
  • Company Directory
  • Advertise With Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • Archives
  • CCPA: Do not sell my personal info.

Follow Us

Copyright © 2023 MobileIDWorld