Samsung Announces Chip-Based Security System for Mobile Payments Due in Q3

Samsung's latest stand-alone turnkey security system offers protection for booting, isolated storage and mobile payments, it said Tuesday. The chip is Criteria Evaluation Assurance Level 6+ certified, it said. Consumers expect smartphones to be highly secure to protect personal data and enable mobile banking, stock trading and cryptocurrency transactions, said Dongho Shin, Samsung senior vice president-system LSI marketing, calling the S3FV9RR chip a “deadbolt on smart devices." The chip is due in Q3.