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Mastercard joins Samsung to create bank cards securely by fingerprint

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The concept is not new, as the MasterCard it advanced in 2017, on its own initiative, with the idea that removed the need to use the keyboard (from any store banking terminal) to make payments. The last year – in view of the advancing need for social distance and confinement derived from the coronavirus pandemic – boosted the use of contactless or QR code for payments at store terminals, however, this is limiting as it requires the need, in the case of the card, to put the pin in the terminal for excessive use or for large amounts.

Therefore, the concept of MasterCard presenting this card is to allow a solution for which you do not need to use third-party applications to make purchases without having to have contact with any keyboard of a ATM (store), as all approval of the transaction is done directly on the card using the biometric fingerprint bed.

In Portugal, the ATM network was one of the biggest national technological advances by the hands of SIBS (Interbank Service Society) and which served as an incubator for tools such as MBWAY.

As we know, this tool has a Portuguese hand and other countries will have theirs, however, not all will have the same accessibility or interest in this type of applications. In this way, the step taken by MasterCard comes to make a very important contribution to the payment at an ATM. Now, the Samsung embraced this project when developing a new security chipset which guarantees greater reliability to the payment and to the MasterCard.

Mastercard joins Samsung to create bank cards securely by fingerprint

The chipset developed by Samsung counts the System LSI Business which, as the South Korean brand says, integrates “[…] several discrete chips”In order to protect customers from possible fraud and problems that may arise from the use of this type of solutions. You terminals ATM POS (those terminals that are available for card payments in stores) can be contagious factors in situations such as the one we are experiencing at the moment.

The concept behind this idea is evident, as both the MasterCard such as Samsung intend to improve security and, on the other hand, decrease the need to interact with these POS terminals, since the user only interacts with his own card, giving his biometric data to authorize the payments, something that already happens with the applications of our smartphones, but that for a matter, perhaps of costs, never got to be applied to the our debit and credit cards.

1614963041 879 Mastercard joins Samsung to create bank cards securely by fingerprint

It is important to note that this model is revolutionizing the way we see the card, at a time when each brand seeks to associate itself with bank intermediaries to captivate its customers and, in some way, create loyalty that goes beyond the quality of the service itself, it also becomes an essential part of the company’s own long-term operation.

Source: Engadget

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