Now a fingerprint chip will make your card payments more secured, free of frauds

Samsung claims to have built a fingerprint chip for secured and fraud-protective payments via cards.

The solution named as S3B512C has been designed primarily for payments cards but can be used in identity, membership and access cards, said Kenny Han, Vice President of System LSI Marketing at Samsung Electronics.

The security chip solution reads biometric information through a fingerprint sensor, stores and authenticates data with a tamper-proof secure element, and analyses and processes data with a secure processor, the company said in a statement.   

The biometric authentication removes the need to enter a PIN and also prevents fraudulent transactions made with lost or stolen cards as it verifies the cardholder’s identity through fingerprint, the post read.

An Integrated Circuit (IC) is an electronic circuit formed on a small piece of semiconducting material, which performs the same function as a larger circuit made from discrete components.  

Samsung avers that the solution can help card manufacturers reduce the number of chips required and optimise card design processes for biometric payment cards as all the three key functions are integrated in a single chip.