Samsung and Mastercard are working together to develop a payment card that will have an integrated fingerprint reader to enable biometric authorization of payments. Samsung informed about it in the press release with the companies signing a memorandum of understanding.
According to both companies, a biometric payment card will bring safer and faster payments. In addition, authorization via a card reader directly on the card removes the need to physically touch the terminal when entering the PIN, so the customer will not have to touch the terminal, which has been touched by many people in front of it.
Server Engadget notes that the introduced card is reminiscent of the biometric card introduced by Mastercard in 2017. But the new readers will work on a chipset basis from Samsung’s System LSI Business division.
Biometric payment cards from Samsung and Mastercard will work on Mastercard chip terminals and on regular payment terminals at cash registers. The novelty is to go on the market this year, but so far only in South Korea. The cards will first be offered to corporate clients who carry out international transactions more often.
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