Paypal has announced that Samsung's Galaxy S5 smartphone will be the first to be able to login and shop at any merchant that accepts PayPal on mobile and in stores with only their fingerprint The new secure biometric feature means Galaxy S5 users will no longer need to remember passwords or login details across millions of PayPal merchants
PayPal will be the first global payments company to support Samsung's mobile fingerprint authentication technology.
"We spearheaded the Fast IDentity Online Alliance last year and predicted that the industry would soon move beyond passwords, and this announcement brings us one step closer to that reality," said Hill Ferguson, Chief Product Officer for PayPal. "With a simple swipe of a finger, consumers can still securely log into their PayPal account to shop and pay with the convenience that mobile devices afford."
PayPal provides a secure wallet in the cloud and doesn't store personal information on the device. Customers can use their finger to pay with PayPal from their new Galaxy S5 because the FIDO Ready software on the device securely communicates between the fingerprint sensor on their device and PayPal's service in the cloud.
The only information the device shares with PayPal is a unique encrypted key that allows PayPal to verify the identity of the customer without having to store any biometric information on PayPal's servers.
Starting in April, PayPal fingerprint authentication on theSamsung Galaxy S5 will be available in 26 markets globally, including Australia, Brazil, Hong Kong, Russia, UK and USA
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