PayPal continues to follow the strategy of moving beyond password security by integrating Apple’s Touch ID technology into its app.
Last February, PayPal become they first payments company to integrate Samsung’s fingerprint technology on the S5 phone.
Now Apple iPhone users have the same option. Instead of using passwords, users use their fingerprint to be identified and can then “access virtually any part of your PayPal wallet…in all markets where the PayPal app is available”.
PayPay has recently been making a concerted effort to upgrade its payment services and move beyond passwords. First, it launched ‘One Touch’ buying on its mobile app; meaning users would not have to keep entering their usernames and passwords to make purchases. Then it expanded it to web browsers meaning the company’s 165 million users did not even have to own the app any more to use the One Touch service.
“As one of the founding members of the Fast Identity Online (FIDO) Alliance, we strongly believe that industry collaboration is required to create a future that moves beyond the password,” the company said in its blog.
Mastercard is working with Stripe to expedite the payment process for American sellers on the latter's marketplaces using the instant payouts feature from Stripe.
Lloyds has launched biometric finger print authentication for mobile banking.
Barclaycard has partnered with Case Station, a company that makes personalised phone cases, to embed contactless technology in the latter's smartphone cases.
Digital challenger bank, N26, which has been live for one and a half years and has more than 200,000 customers, rolled out a new feature that allows its customers to transfer money using Siri. All they have to do is talk to it.