Samsung is working with Mastercard on a biometric scanning payment card with an integrated fingerprint reader, Samsung announced. The technology appears to be similar to Mastercard’s biometric payment cards introduced in 2017, which let you authenticate when making purchases without touching a keypad. However, Samsung said the cards “will adopt a new security chipset from Samsung’s System LSI Business that integrates multiple key discrete chips,” rather than using Mastercard’s current technology.
The goal is to increase security while reducing physical touchpoints, as your fingerprint is scanned directly from your own card rather than an external point-of-sale (POS) device. However, the card is compatible with Mastercard’s authentication technology, as it can be used at any Mastercard chip or POS terminal.
In comparison, the Apple Card is designed primarily for use on smartphones, but Apple issues a physical titanium card with name laser-etched onto it. If you use the physical Apple Card, however, you'll need to enter a code at 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 financially supported by Samsung Card, which is owned by Samsung Life Insurance and is South Korea 's largest credit card company, according to Wikipedia. The card will be launched in South Korea later this year , but Samsung has not said if and when it will be launched in other countries.
Information source: engadget.com
