Samsung Electronics and Mastercard have partnered to pilot a biometric card that uses a built-in fingerprint sensor to authorise in-store transactions.
The partnership, confirmed through a memorandum of understanding, will see the companies develop a card using Samsung’s System LSI Business’ new security chipset, which Samsung claimed has integrated “key discrete chips” to improve efficiency.
“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,” Samsung Electronics vice president Harry Cho said.
Mastercard has been experimenting with fingerprint readers in payment cards since at least 2017. Mastercard further noted that the new tech will add an extra layer of security to currently available cards, but some might not see it that way. With data breaches being so common these days, expecting yet another firm to keep valuable biometric data safe from hackers could be a big ask for some.
The rollout won’t start until later this year and when it does, it’ll be limited to corporate clients located in South Korea. No word yet on how long it’ll take for the tech to trickle down to ordinary consumers worldwide.