Samsung has released a smart all-in-one fingerprint security IC for biometric payment cards.
With enhanced security capabilities offered by Samsung’s exclusive fingerprint authentication algorithm and anti-spoofing technology, the new security IC solution integrates a fingerprint sensor, Secure Element, and Secure Processor on one chip.
Korea on January 25, 2022 – Samsung Electronics, a global leader in innovative semiconductor technology, today unveiled the S3B512C, a new fingerprint security IC with increased security features. The new solution is EMVCo and CC EAL 6+ certified, and it meets Mastercard’s latest Biometric Evaluation Plan Summary (BEPS) criteria for biometric payment cards.
According to a new analysis from the Smart Payment Association, an increasing number of pilots and now commercial rollouts of biometric payment cards, as well as the creation of standards, all point to the safe and contactless payment method becoming ubiquitous as soon as 2022. (SPA).
Consumers prefer contactless cards to digital wallets, according to Visa research and a study conducted by Fingerprint Cards in partnership with Kantar, with minimal increase projected for the latter. According to FPC, 62 percent of consumers would switch banks to receive a biometric card (70 percent among frequent contactless card users), and 42 percent are willing to pay an extra US$10.70 per year for one (rising to 74 percent among frequent mobile pay users).
“S3B512C combines a fingerprint sensor, Secure Element (SE) and Secure Processor, adding an extra layer of authentication and security in payment cards,” said Kenny Han, Vice President of System LSI Marketing at Samsung Electronics. “The S3B512C is primarily designed for payment cards but can also be used in cards that require highly secured authentications such as student or employee identification, membership or building access.”
The new security IC is the industry’s first all-in-one security chip solution, featuring a fingerprint sensor that reads biometric information, a tamper-proof SE that stores and authenticates encrypted data, and a Secure Processor that analyzes and processes data. The S3B512C can help card producers minimize the number of chips required and streamline card design procedures for biometric payment cards by combining three critical features onto a single chip.
Biometric payment cards with the new security IC incorporated will allow for faster and safer interactions while completing transactions. Because it confirms the cardholder’s identification using a unique and securely saved fingerprint, biometric authentication eliminates the need to enter a PIN on a keypad and also prevents fraudulent transactions with lost or stolen cards.