Samsung Galaxy S5 fingerprint reader can be used for PayPal purchases

Samsung and PayPal have announced that they have teamed up to allow users of the Samsung Galaxy S5 announced this week to make more use of that fingerprint scanner the smartphone offers. PayPal will allow the S5 user to use the fingerprint scanner to login and shop at any merchant that takes PayPal.

That includes online and in-stores that accept PayPal. The use of the fingerprint scanner means that the user won't need to memorize a password or login info for multiple websites. PayPal says that is provides a secure wallet in the sky and no personal details are stored on the device.

The S5 has FIDO Ready software that can communicate securely between the fingerprint sensor on the device and the PayPal service in the cloud. The only information shared between the device and PayPal is a unique encrypted key that verifies the user's identity. The fingerprint authentication service will launch on the Galaxy S5 in April and will be offered in 26 markets.

"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. "By working with Samsung to leverage fingerprint authentication technology on their new Galaxy S5, we are able to demonstrate that consumers don't need to face a tradeoff between security and convenience. 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."�