Samsung and Mastercard Teams Up to Develop a Fingerprint Payment Card to Reduce Physical Contact and Strengthen Security

Sieeka Khan, Tech Times 04 March 2021, 11:03 am

Samsung announced that it will collaborate with Mastercard in order to develop a biometric scanning payment card that has a built-in fingerprint reader.

Samsung and Mastercard to create fingerprint payment card

The planned technology to be used for the fingerprint payment card is similar to that of Mastercard's biometric payment cards were launched back in 2017.

The biometric payment cards let you authenticate your purchases without you having to touch a keypad, according to Engadget.

As per Samsung's announcement, the new cards will adopt a new security chipset from Samsung's System LSI Business that integrates numerous key discrete chips instead of just using Mastercard's technology for their biometric payment cards.

Also Read: Apple Card March Customer Bonus: 6% Daily Cash for New Applicants and Purchases-Here's How

This new technology aims to increase and strengthen security while reducing physical contact, especially since the coronavirus pandemic has required people to social distance and not touch any surface as possible.

Fingerprints will be scanned directly from the user's own card and not through an external point-of-sale or POS device. However, the payment card is compatible with Mastercard's authentication tech because it can be used at any Mastercard chip or at any POS terminal.

The card will use Mastercard during the clearing of the purchase and the POS side, but it will still be backed financially by Samsung Card, which is owned by Samsung Life Insurance and is the biggest credit card company in South Korea.

The card will then roll out in South Korea before the year ends, but Samsung did not say if they will release it globally.

Apple Card's newest mode of payment

Samsung and Mastercard's upcoming technology can be compared to Apple Card, which was launched back in 2019. However, Apple Card is designed to be used on a smartphone, but Apple does release a physical card, but you will need to enter a code into a POS device because there is no built-in fingerprint reader.

Apple users can apply for Apple Card on their iPhone. Users can open the Wallet app and tap on the Add button, select Apple Card and tap Continue to complete the application, according to Apple.

Make sure to review and agree to the Apple Card Terms & Conditions. Accept your offered credit limit and your APR.3. After you've accepted the offer, Apple Card is then added to the Wallet app, and you can request titanium Apple Card.

Applying for an Apple Card and upgrading it to a titanium Apple Card is easy, but the technology does not come without any issues. Just recently, a developer and designer from California named Dustin Curtis posted online about his experience with the product.

On his blog, Curtis stated that Apple disabled his Apple ID accounts, App Store, and iCloud. He added that it happened after he encountered an error while updating apps in his App Store on his Mac.

Apple immediately released a statement about the ordeal. As reported by 9to5Mac, Apple stated that the issue in question involved a restriction on the Apple ID of the customer that disabled App Store and iTunes purchases and subscription services, excluding iCloud.

Apple also said that Curtis was instructed to return the MacBook Pro because Apple could not collect funds from the customers, so the Apple ID was disabled. But Apple assured that what happened to Curtis was unrelated to Apple Card.