Through this strategic collaboration, the
companies aim to provide faster and more secure payment experiences. The
biometric authentication capability allows safer interactions with reduced
physical contact points by eliminating the need to enter a PIN on a keypad. It also
adds an extra layer of security to currently available credit cards by
verifying the cardholder’s identity via a unique fingerprint.
The biometric cards will adopt a new
security chipset from Samsung’s System LSI Business that integrates several key
discrete chips, streamlining the overall component design and enabling more
efficient development. These cards can be used at any Mastercard chip terminal
or point of sale (POS) terminal.
“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,”
said Harry Cho, vice president of “ at Samsung Electronics.
“As consumers embrace the safety and
convenience of contactless payments, Mastercard will leverage its cybersecurity
and intelligence expertise and global payments network in this three-way
partnership to enhance cardholder security with a biometric solution supporting
fast, frictionless payment experiences that are protected at every point,” said
Karthik Ramanathan, Senior Vice President, Cyber & Intelligence Solutions,
Asia Pacific, Mastercard.
“This biometric card is an example of
Samsung Card’s efforts to deliver innovative and convenient solutions to
consumers,” said Hanjoo Yoon, Vice President, Planning & Communication,
Samsung Card.
Samsung Card will lead the roll out in
South Korea, with plans to introduce the biometric card later this year. The
adoption of the solution will be a gradual process, starting from corporate
credit cards that have more frequent international transactions.
“We have big data expertise, and have set
the standard in domestic market for digital transformation and fraud detection
system (FDS). Leveraging these experiences, we will deliver a powerful solution
to enhance payment experiences in close partnership with Samsung Electronics
and Mastercard,” said Hanjoo Yoon.
Samsung inspires the world and shapes the
future with transformative ideas and technologies. The company is redefining
the worlds of TVs, smartphones, wearable devices, tablets, digital appliances,
network systems, and memory, system LSI, foundry and LED solutions. For the
latest news, please visit the Samsung Newsroom at http://news.samsung.com.
Mastercard (www.mastercard.com) is a global
technology company in the payments industry. Our mission is to connect and
power an inclusive, digital economy that benefits everyone, everywhere by
making transactions safe, simple, smart and accessible. Using secure data and
networks, partnerships and passion, our innovations and solutions help
individuals, financial institutions, governments and businesses realize their
greatest potential. Our decency quotient, or DQ, drives our culture and
everything we do inside and outside of our company. With connections across
more than 210 countries and territories, we are building a sustainable world
that unlocks priceless possibilities for all.
Samsung Card is a leading credit card
company in South Korea. We strive to deliver convenient and innovative payment
experience by leveraging expertise in IT and data analysis. Our offerings
continuously expand outside of credit cards, from personalized financial
service to online shopping mall, as we aim to transform the payment process to
be enjoyable and effortless.
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