“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 that reads biometric information through a fingerprint sensor, stores and authenticates encrypted data with a tamper-proof SE, and analyzes and processes data with a Secure Processor. With the three key functions integrated in a single chip, the S3B512C can help card manufacturers reduce the number of chips required and optimize card design processes for biometric payment cards.

With the new security IC embedded, biometric payment cards will allow faster and safer interactions when making purchases. The biometric authentication removes the need to enter a PIN on a keypad and also prevents fraudulent transactions made with lost or stolen cards as it verifies the cardholder’s identity using a unique and securely stored fingerprint.

The solution’s encrypted fingerprint data is stored in a SE that has received globally accredited certifications such as EMVCo and CC EAL 6+. To safely and accurately verify the user’s identity, the new IC comes with a proprietary fingerprint authentication algorithm and a Secure Processor that extracts and analyzes the unique features of the fingerprint placed on the sensor. Furthermore, the chip’s anti-spoofing technology prevents unauthorized users from circumventing the security system with illegitimate methods such as artificial fingerprints.

“When we introduced online payments in South Korea last year, the service was well received by the market. Online payments accounted for more than 25 percent of the 2 trillion won in processed transactions, demonstrating that consumers may be actively looking for solutions to make their online experiences faster, simpler and secure,” said Thomas Ko, VP and Global GM, Samsung Pay, Mobile Communications Business at Samsung Electronics. “By partnering with Masterpass in the U.S. and rolling out online payments globally, we will simplify the online transaction experience by eliminating the need for customers to fill out tedious online checkout forms, remember long passwords or fumble for their wallets.”

“Mastercard is working to ensure that every one of our accounts is as digital as the people using them,” said Garry Lyons, Chief Innovation Officer at Mastercard. “Enabling our cardholders to use Samsung Pay to shop online via Masterpass is the latest example of our work – alongside our banks, merchants and digital partners – to deliver rich, innovative, compelling and secure ways to pay and get paid across all channels and devices, redefining commerce globally.”

Samsung Pay will provide consumers with a seamless online payment platform with benefits including:

• Express Checkout: Skip the process of filling out long online forms. With the express checkout solution, customers will be able use their Mastercard debit or credit cards along with the shipping information saved on their Samsung Pay account to quickly complete online transactions.

• Make Purchases from Any Device: Customers can make online purchases from a computer, tablet or smartphone while shopping on their favorite sites or apps.

• Secure Transactions: Security remains our top priority. When making online payments, a unique token is used in an encrypted form – not the actual debit or credit card number. Users can authenticate transactions using secure methods including a fingerprint scanner, which is built into Samsung’s mobile devices.

Samsung Pay also announced new features in the United States, including support for in-app payments and new nearby discounts and savings, marking one more step toward a true digital wallet. The announcements came at Money 20/20, a leading payments and financial services event.

Access to Deals at Nearby Stores:

Beginning in November, Samsung Pay users will be able to locate discounts and coupons for nearby stores and restaurants through the new Deals feature within the Samsung Pay app, and redeem these deals instantly. With a new refreshed look, and enhancements to user experience and design on the Samsung Pay app, users will be able to find and redeem instant savings easily and quickly.

New In-App Payments:

In November, users will also be able to use Samsung Pay as their payment option when they shop at select merchant apps.  Simply select Samsung Pay during check-out, and select from the cards loaded within the app to make an in-app payment. To start, in-app payments will be available for Samsung Pay users when they shop with Velocity, Raise, Fancy, Hello Vino, Wish and Touch of Modern, with more to come.

Partnership Ecosystem:

With the addition of its latest financial partners Capital One and USAA, Samsung Pay now supports over 500 banks and credit unions, representing over 85 percent of the U.S. debit card and credit card market.

About Samsung Pay

Samsung Pay, a mobile payment service from Samsung Electronics, is simple, safe and available almost anywhere* you can swipe or tap your card**. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay almost anywhere you can swipe or tap a card at millions of merchant locations. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience.

Samsung Pay is currently available in the United States on select Galaxy devices and wearables, including the Galaxy S7 and S7 edge, S6 edge+, Note5, the Gear S2, and the Gear S3 next month.

* Availability almost anywhere is based on compatibility of Samsung Pay on MST and/or NFC payment terminals, with some supported for use only after software upgrades. Samsung Pay is exclusive to selected Samsung Galaxy smartphones only, and available across all participating payment networks, banks, and merchants. Availability may vary, please visit http://www.samsung.com/samsungpay/ to learn more.

** Samsung Pay is compatible with select cards, Samsung devices, and leading wireless providers. Visit http://www.samsung.com/samsungpay/ to learn more. Some card reader terminals may require software updates to be compatible with Samsung Pay.

“More Samsung users will be able to use Samsung Pay to shop this holiday season, thanks to new support from MasterCard and Visa issuers, including our valued partners at PNC Bank and KeyBank,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “With the widest acceptance of any mobile payment service, Samsung Pay continues to expand its reach and provide its customers unparalleled choice, flexibility and access.”

“Samsung Pay delivers the purchasing power of PNC credit and debit cards right to the place where customers want it most – on their mobile devices,” said Thomas Trebilcock, who leads Mobile & Emerging Payments for PNC. “Offering payment services like Samsung Pay illustrates PNC’s commitment to convenience and delivering enhanced mobile capabilities to customers.”

“Key is pleased to offer Samsung Pay to its clients,” said Jason Rudman, Head of Consumer Payments and Digital Banking at KeyBank. “Its wide acceptance and simple user experience are consistent with Key’s effort to bring ease, value and expertise to our clients and provide choice in their ability to make mobile payments.”

Samsung Pay supports all major payment networks and many of the country’s major financial institutions, and it continues to expand its partnership ecosystem. Click here for the full list of financial partners that support Samsung Pay.

• SIMPLE: To make a payment on Samsung Pay, users can simply swipe up on their phone screen to launch Samsung Pay, select a card, scan their fingerprint and pay

• SAFE: Samsung Pay uses tokenization, Samsung KNOX, and fingerprint authentication to provide secure payments. And, as terminals are upgraded to EMV, that security is leveraged, too.

• ALMOST ANYWHERE^*: Samsung Pay is compatible with the majority of existing and new terminals, including most magnetic stripe, EMV and NFC terminals^*. That means Samsung Pay works at more places than any other mobile payment service.

MasterCard and Samsung Electronics announced they are extending their global partnership leveraging the MasterCard Digital Enablement Service (MDES) to deliver Samsung Pay in Europe.  Samsung Pay is a mobile payment service that will enable consumers to use their Samsung flagship mobile devices to make every day in-store purchases at contactless and mag stripe terminals leveraging NFC and MST technologies. Samsung and MasterCard will together roll out Samsung Pay throughout Europe. Card issuers will be able to connect to the MDES platform and activate the Samsung Pay service upon launch. Cardholders from participating issuers can activate their credit, debit, reloadable prepaid and small business cards in the Samsung Pay service and use their mobile devices to make everyday purchases.

Earlier this year, MasterCard announced it would provide the tokenization services to Samsung Pay for its secure transactions, enabling a quick scaling connection to bank partners in the U.S. Samsung Pay is a global mobile payment solution that is the first mobile wallet to give consumers a way to shop and spend virtually anywhere – using contactless and magstripe card readers.

“Samsung Pay is pleased to join forces with MasterCard to offer a simple and safe mobile payment experience enabled for wider merchant acceptance to MasterCard cardholders and issuers in Europe,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “Both organizations are committed to ground breaking fin-tech innovations that will deliver on the promise of a true mobile wallet.”

“With the continued global growth and reliance on connected mobile devices, we are delighted to expand our relationship with Samsung by extending the reach of Samsung Pay and MDES to cardholders in Europe.  Europeans have been leading the way in the adoption of new ways to shop, buy and make a payment. Through our strong partnership with Samsung we look forward to continuing to drive innovation in mobile commerce by creating simple and secure digital payment experiences for consumers,”  said Javier Perez, President of MasterCard Europe.

Samsung Pay is scheduled to launch in the U.S. and South Korea later this summer and Samsung is currently working with banks and partners to bring the payment service to Europe.

Since the announcement of MDES in 2013, millions of MasterCard accounts have been tokenized for use in popular digital wallet services. MDES currently provides tokenization services for credit, debit, co-brand, prepaid and small business cards. Private label tokenization, announced last month, will begin in the third quarter of this year. Tokenization services for app, eCommerce, and recurring billing card-on-file programs will be available to U.S. and Canadian merchants later this year and expand globally across all MDES-enabled markets. 

About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.