Yahoo Finance Samsung Offers 'Pay By Finger' With Galaxy S5
The latest version of Samsung's flagship mobile phone will allow users to shop online using only their fingerprint to pay.
The Galaxy S5, unveiled at the Mobile World Congress in Barcelona, Spain, features a fingerprint scanner among a number of new features.
Much like with the Apple (NasdaqGS: AAPL - news) iPhone 5S, the scanner can be used to unlock the handset.
However, Samsung has taken the biometric technology one step further, teaming up with PayPal to allow users to buy goods and services using only their fingerprint, rather than a traditional username and password.
Hill Ferguson, chief product officer at PayPal, said security is of "utmost importance" and insisted biometric details are not stored on its servers.
"The only information the device shares with PayPal is a unique encrypted key that allows us to verify the identity of the customer," he said.
"Consumers don't need to sacrifice convenience to increase security. With a simple swipe of a finger, they can securely log into their PayPal account to shop and pay with the convenience mobile devices afford."
JK Shin, president of Samsung's mobile communications division, said the company had gone "back to basics" with its latest phone.
As well as the fingerprint scanner, the Galaxy S5 comes with a number of new health and fitness features, including a built-in heart rate monitor, a pedometer, and a diet and exercise tracker.
It can also be synched up to Samsung's latest Gear smartwatches for "real-time fitness coaching".
Although it looks similar to its predecessor, the Galaxy S5 features an improved 16 megapixel camera with a "selective focus" feature that allows users to select a specific object and simultaneously blur out the background.
The device also receives a subtle facelift, with a perforated pattern on the cover.
The S5 goes on sale in April, with PayPal's fingerprint authentication due to go live in 26 countries, including the UK and the United States, at around the same time.
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