In line with Samsung Electronics’ new smartphone “Galaxy Note 7”, credit card companies will begin the Samsung Pay service through mobile iris recognition around the end of this month. After banks launched mobile banking based on iris recognition, it is expected that credit card companies will rapidly introduce various financial transaction methods based on bio recognition.
According to the financial industry on August 8, with the Korean launch of the Galaxy Note 7 ten days away, Korean credit card companies will support simplified card use by way of iris recognition.
Samsung Card, the most active credit card company in the development of bio recognition service has already stepped up its collaboration with its sister company, Samsung Electronics since last year. Samsung Card will start the iris recognition service of Samsung Pay as early as the end of this month and is considering the start of the payment via Samsung App Card based on iris recognition.
Shinhan Card also completed its technical preparations. The credit card company is planning to launch the iris recognition service of Samsung Pay after coordinating with Samsung Electronics. Hyundai Card and KB Kookmin Card will hop on the bandwagon, too.
The advantages of iris recognition compelled banks to move first. Shinhan Bank, Woori Bank and KEB Hana Bank are planning to begin iris recognition-based mobile banking service in accordance with the launch of the Galaxy Note 7. Card companies quickly joined them.