Samsung and Mastercard are floating on a biometric credit card.

 

In order to enhance the safety of each purchase, both firms collaborate to add a fingerprint sensing on a bank card.

Different payment operators have been trying for many years now to boost bank card protection.

A safer card for everyday payments

In fact, we have seen cards with dynamic encryption that very often alter to prevent fraudulent operations in the event of stealing. Samsung and Mastercard both plan to tackle physical payment security and announce that they will collaborate to build up a bank card with a fingerprint sensor.

Mastercard has already developed a similar project in 2017 which required fingerprint recognition in order to validate the transaction but the two companies want to go further.

In fact, a PIN is missing from this new bank card. The only method of paying merchants is biometric authentication, which will enable "more safe transactions with fewer contacts."

The identity of the recipient is confirmed by a chip placed within the card. Both existing terminals of payment will be consistent.

Mobile payment explodes and Mastercard wants its piece of the pie

Besides the security of the biometric device, this new form of payment card will then allow the keyboard of a mobile payment not to be touched and it would therefore boom and the growth of operations would not end. Contactless transactions amounted to $178 billion in 2020 and were expected to hit $1.5 billion by the year 2024, according to economists. So, with Apple Pay, Google Pay or PayPal, Mastercard could nibble the market share, in the sector at an early stage.

Samsung will be launching the first copies of this card in South Korea by later this year through its Samsung Card operation. There is also no announced international shipment.