Samsung implements CDCVM for bigger payments on Samsung Pay

Monday 21 September 2020 13:52 CET | News

Samsung has launched a new functionality for Samsung Pay Australia-based users that allows them to verify payments over USD 100 or USD 200, without touching a point-of-sale terminal.

According to ChannelNews, Samsung stated that users can verify such purchases from their mobile devices by using a fingerprint, PIN, or iris, instead of having to physically enter their PIN on the point-of-sale terminal. The new method is called Consumer Device Cardholder Verification Method (CDCVM) and is reported to facilitate the authentication process, while making it safer.

The solution is available via a Samsung Pay software update for Visa, Mastercard, and American Express cardholders. However, users paying with a Mastercard who loaded their card onto Samsung Pay before 21 July will need to delete and re-load their cards in order to enable it. Besides, not all merchants support the technology currently.

Overall, the launch of Samsung’s CDCVM solution provides its users with a payment experience which is convenient, secure, and faster at the checkout, facilitating the overall digital wallet experience for its Australia-based consumers, the company stated.

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Keywords: Samsung, Samsung Pay, Australia, point-of-sale terminal, fingerprint, PIN, IRIS, Consumer Device Cardholder Verification Method, CDCVM, authentication, Visa, MasterCard, American Express, cardholders, cards, merchants, checkout, checkout
Categories: Fraud & Financial Crime
Countries: Australia
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Fraud & Financial Crime

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