Samsung launches S3B512C payment card solution

In the field of payment cards (bank cards/credit cards), chip and magnetic stripe cards are still mainly used, in which credit cards pass the CVV security code as the main security verification. But the reality is that the card number, expiration date security code, etc. are easily leaked, so it is very frequent to buy and sell credit cards in the underground black market. How to improve the security of payment cards is an important issue. Samsung recently announced the launch of the S3B512C payment card solution, an innovative integrated fingerprint recognition. The solution is essentially a security chip, which stores fingerprint information inside the chip. When the user pays, they need to press the fingerprint identification module for authentication before payment.

The current mainstream security verification methods are virtual verification. After all, not all fields must use physical security hardware such as online banking shields to improve the security level. The problem of virtual verification in the payment card space has been around for many years, where the card number, expiration date, and security code are known to complete the payment without additional confirmation. The highlight of Samsung’s solution is to turn virtual verification into physical verification, even if the card information is leaked, it is useless because the card fingerprint recognition cannot be accessed. Of course, it is still impossible to pay even if the fingerprint of the card is wrong, so the security level can be significantly improved compared with traditional virtual verification. But if you want to pay online, how do you perform fingerprint recognition? This Samsung did not mention, but this may be done with the help of a mobile phone through NFC.

The security of magnetic stripe cards is extremely poor and it is very easy to be copied. Therefore, MasterCard, the world’s major payment institution, is about to start to phase out magnetic stripe cards, but they cannot be completely cleared in a short period of time. According to MasterCard, the agency will start removing magnetic stripe cards in 2024, but it may not be until 2033 to completely phase out the magnetic stripe and transition to a more secure chip. The solution launched by Samsung has been certified by MasterCard, but it is not known when consumers will be able to use payment cards with fingerprint recognition. In addition, Samsung also said that the solution is not only used for payment cards, but also for company employee cards and membership cards. It remains to be seen whether fingerprint identification cards will become popular in the future.