Security is crucial considering the rise in malware and spyware assaults on Android smartphones, particularly when it comes to apps that are tied to banking and payments. RFID-blocking wallets and biometric identification on apps like Samsung Pay and Google Wallet have become standard since the introduction of contactless payments utilizing RFID and NFC. Samsung had the brilliant idea to use a biometric card integrated circuit (IC) to combine traditional bank cards with smartphone-grade fingerprint authentication, opening intriguing potential.
Payment technologies must be trustworthy, safe, and simple to use because no one wants to lose money due to technological mishaps. Any bank card can discretely incorporate a Samsung IC. Simply place your thumb on the fingerprint reader and touch your card on the point of sale (POS) device to complete the transaction. The IC is wirelessly powered by the device, which later verifies your print and authorizes the transaction.
The concept of on-card biometrics is not new. Popular card issuers like Visa and Mastercard are also experimenting with the technology. Samsung’s IC, however, unites the secure element, authenticator, and fingerprint sensor into a single object, in contrast to other solutions. The technique is more secure and simpler to implement in next-generation cards because on-device encryption shields the chip from outside threats. According to Samsung, up to three prints can be registered and stored on the card itself, and all processing takes place directly on the device and is kept private.
On-card biometrics may theoretically totally replace PINs and cardholder signatures. But in addition to current safety measures, this technology can also serve as a secondary layer of protection. The use of stolen cards without such validation may be nearly impossible. Because fingerprints are so distinctive and this new IC is so simple to use, Samsung thinks that this technology will help make banking more accessible for people with learning problems and other impairments.
Although this is an amazing technology on its own, it’s more likely that the IC would be sold to organizations like Visa, American Express, and MasterCard rather than Samsung switching from manufacturing the Galaxy series to mass-producing your bank cards. With this feature, cards could become more secure, convenient, and inclusive.
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