The Biometric Card IC from Samsung provides biometric cards with a range of requirements to make routine transactions safer and easier. It is an all-in-one security solution. The CES 2023 Best of Innovation Awards in the area of Cybersecurity & Personal Privacy chose this innovative fingerprint security chip as a winner.
Let’s explore how this new field can assist individuals in resolving one of the most urgent payment and identity issues facing society today. You will first get a broad concept of how this technology will alter how people pay in the future from this video.
A biometric card has no signature or PIN.
A biometric card, which uses fingerprint authentication rather than a personal identification number (PIN) or signature, gives cardholders a secure and efficient means to validate themselves at the point of sale (POS). High-value transactions are quicker and simpler to complete since cardholders are not required to provide a PIN.
A higher level of security always worries about the card or PIN theft and boosts confidence when using the card, particularly when travelling. This is because you can use the card without worrying about fraudulent payments, even if your card is stolen or lost.
How to operate: a simple and secure transaction
The card may have up to three digital finger templates added to it during enrollment, and the biometric information is securely kept on the card. The enrollment may be completed from home or in a supervised, in-person location determined by the issuer, depending on the issuer’s policy.
By putting the enrolled finger—typically the thumb—on a sensor built into the card, cardholders may insert or touch their biometric card at a normal EMV point-of-sale terminal to make a payment. A PIN is not necessary since the biometric card rapidly verifies the card user’s identity. If the biometric match successfully confirms the card user’s identity, the transaction will proceed. A biometric card scans the fingerprint and compares it to the templates of fingerprints that are kept on the card without providing the merchant with any biometric data.
The card matches the scanned picture to the fingerprint structure it has stored on it at the point of sale. It is not possible to change or distribute the registered fingerprint template outside of the card. To avoid any fraudulent changes, the biometric structure is highly secured and shielded from unwanted access.
The registered pattern is not maintained by the issuer, nor is the scanned picture sent to the merchant; therefore, the biometric data does not need to leave the card. The biometric data is thus secure and is never accessible or utilized outside of the card.
the best way to end financial exclusion
The banking sector has made financial inclusion a top focus since many individuals worldwide do not access financial services for a number of reasons. Millions of individuals who struggle with conventional payment systems due to learning difficulties, literacy challenges, or visual impairments may find a solution in biometric payment cards.
When used in place of other popular forms of verification like a written signature or a PIN number, biometric fingerprint authentication can help these people become more financially included by offering a convenient, easy-to-use, and secure way to use cards for payments.
Samsung clears the way for mainstream adoption
Because of its simplicity, biometric identity verification is becoming more popular, and the need for more reliable verification solutions is rising. Reducing manufacturing costs while keeping all of the sophisticated biometric security features has been the key technical barrier to the mainstream use of biometric cards.
Samsung has developed a single chip via technological integration as a way to lower costs without losing functionality. The industry’s first all-in-one security chip solution for biometric cards is made possible by the combination of Samsung’s exclusive technologies, including the fingerprint sensor, secure processor, secure element, and proprietary software.
Banks and other organizations may more easily produce and distribute their biometric payment cards thanks to Samsung’s Biometric Card IC solution. By consolidating the three crucial functionalities into a single chip, the single-chip approach may assist card makers in lowering the number of chips needed and streamlining the card design procedures for biometric payment cards. The security of transactions is enabled by Samsung’s exclusive fingerprint authentication algorithm and anti-spoofing technology.
Due to its performance and design efficiency, Samsung’s innovative payment solution has the ability to challenge the current industry standard and provide new opportunities for market expansion. “The device places Samsung as a first mover in the next-generation payment IC industry, and Samsung will contribute to the growth of the biometric card market by delivering a totally new payment experience,” claims Gwanbon Koo, Vice President of the Security & Power Product Development Team.