To Take on Apple, Samsung Integrates Fingerprint Technology on Smartwatches
Samsung Electronics has teamed up with e-commerce company PayPal and human interface solutions provider Synaptics to integrate mobile payment fingerprint-identification technology on its smartwatches.
The company first announced its collaboration with PayPal in February 2014, when it introduced the Galaxy S5, said Chris Donohue of public-relations company MWW.
The built-in fingerprint sensor in the Galaxy S5 allows users to quickly sign into PayPal and make secure mobile payments.
Reports say the South-Korea based electronics company will unveil a payments-enabled smartwatch at next year’s Mobile World Congress (MWC), the largest mobile exhibition in the world.
The technology will simplify payment authentication on a device with limited space for a long password or PIN.
The third-generation smartwatch featuring this new system will authorize payments immediately when users identify themselves through biometric sensors.
PayPal’s simplified payment system offers users with promotional information of nearby stores based on the user’s’ current location. Users can select products before actually entering the stores and pay upon receipt of the products.
Users can also check transaction information and account balances through text messages.
Samsung plans to expand the service from the current 26 countries to more than 50.
This partnership will place Samsung and PayPal firmly against Apple’s own iPhone 6 and Apple Watch offerings, both incorporating the Apple Pay mobile payment system.
According to Revel Systems CTO Chris Ciabarra, Apple Pay “is the safest form of payment, even better than chip-and-pin going forward.”
“I was pretty impressed by the fact that all of our merchants are looking at this and want it,” he said.
The sheer attention and confidence in Apple and the brand may situate Apple Pay atop the mobile payments mountain, but whether consumers are willing to climb it, is another story.