Samsung has been making significant advancements in the digital payments sector in the recent past. The South Korean giant even launched its own debit card earlier in 2020. And now, Samsung has developed the world’s first all-in-one security solution for card manufacturers that combines three key security functions integrated into one chipset.
Dubbed as S3B512C, it is a fingerprint-enabled security integrated circuit (IC) that packs enhanced security features, thanks to an all-in-one security chip solution. The S3B512C IC packs a fingerprint sensor, Secure Element (SE), and Secure Processor to deliver a secured payment experience to users.
While these are some of the advantages for the end-users, card manufacturers, on the other hand, would be able to reduce the number of chips on their cards and optimize the card designs by using Samsung’s all-in-one security IC. It is EMVo and Common Criteria Evaluation Assurance Level (CC EAL) 6+ certified as well and performs in line with Mastercard’s Biometric Evaluation Plan Summary, as per Samsung.
Going forward, the company is expected to sell its new security IC to banks across regions. However, an exact timeline for when debit and credit cards would show up with Samsung’s new security solution is currently unknown. So, stay tuned for further updates in the coming weeks or months.
