Samsung is collaborating with Mastercard on a biometric scanning payment card with a built-in fingerprint reader, Samsung has announced. The technology appears to be similar to Mastercard’s biometric payment cards unveiled in 2017 that let you authenticate purchases with without ever touching a keypad. However, Samsung said the cards “will adopt a new security chipset from Samsungs System LSI Business that integrates several key discrete chips,” rather than using Mastercard’s current tech.
The aim is to increase security while reducing physical contact points, as your fingerprint is scanned directly from your own card and not an external point-of-sale (POS) device. However, the card is compatible with Mastercard’s authentication tech, as it can be used at any Mastercard chip or POS terminal.
By way of comparison, the Apple Card is designed mostly to be used on a smartphone, but Apple does issue a physical titanium card with your name laser etched onto it. If you do use Apple’s physical card, however, you’ll need to enter a code into a POS device as there’s no built-in fingerprint reader.
While the card will use Mastercard on the clearing and point-of-sale side, it will be backed financially by Samsung Card, which is owned by Samsung Life Insurance and is South Korea’s biggest credit card company, according to Wikipedia. The card will roll out in South Korea later this year, but Samsung didn’t say if it would come to other regions.