Samsung System LSI Business, a subsidiary of Samsung Electronics, payment system Mastercard and Samsung Card signed a Memorandum of Understanding (MoU) to jointly develop a payment card with a built-in fingerprint scanner for secure authorization at payment terminals for transactions.

With biometric authentication, there is no need to enter a PIN on the ATM keypad, making transactions safer with fewer physical contact points. It also adds an extra layer of security by providing a fingerprint scan to verify the identity of the cardholder.

The biometric cards will use the new Samsung System LSI Business chipset to provide secure authentication, combining several key discrete chips. Such payment cards can be used in any terminal with support for the Mastercard payment system or in a cash register (POS).

Samsung Card will provide a biometric card in South Korea, with plans to introduce it later this year. Corporate credit cards are expected to be issued first, which are more commonly used for international transactions.