PayPal has partnered Samsung to support its mobile fingerprint authentication technology on the Samsung GALAXY S5 LTE.
Through the collaboration, Samsung GALAXY S5 LTE users will be able to login and shop at any merchant that accepts PayPal on mobile and in-stores with only their fingerprint. This eliminates "the need for consumers to remember another password as they can instead pay with just one simple swipe of a finger," said Lawrence Chan, vice president of Asia Pacific Merchant Services and General Manager of Southeast Asia & India at PayPal.
Paypal's Fast Identity Online Alliance (FIDO) Ready software is loaded onto the Samsung GALAXY S5 LTE to enable the fingerprint sensor on the device to securely communicate with PayPal's wallet in the cloud. According to PayPal, its wallet in the cloud does not store any personal or biometric information on its servers. The only information the device shares with PayPal is a unique encrypted key that allows PayPal to verify the identity of the customer.