Samsung, PayPal Team Up For Galaxy S5; Consumers Likely Weary

0
Samsung, PayPal Team Up For Galaxy S5; Consumers Likely Weary
<a href="https://pixabay.com/users/webandi/">webandi</a> / Pixabay

PayPal and Samsung have extended their collaboration with a new biometric feature that will allow users of the new Galaxy S5 smartphone to use fingerprint authentication for mobile payments with PayPal merchants. PayPal argues that this is a major innovation in m-payment, introducing a new level of convenience for consumers compared to the familiar login-and-password authentication model.

Eden Zoller, principal analyst at Ovum comments:

“We think consumers will be wary and need some convincing due to security concerns. In Ovum’s 2013 Consumer Insights Survey, almost half the survey respondents (49%) ranked lack of security as their priority concern with mobile payments. Consumers already worried about the security of established m-payment mechanisms are likely to view a new technology and process with suspicion.

“On the positive side, Samsung is a hugely popular smartphone brand with global reach, while PayPal is a trusted payments service provider. This is a powerful combination. PayPal stresses that fingerprint authentication is a secure feature based on a FIDO-ready software implementation with all credentials stored remotely in the cloud. PayPal is the first member of the FIDO Alliance to produce a solution of this kind; other members include Google and Microsoft.

Khrom Capital killed it during the first quarter, continuing its strong track record; here are their favorite stocks

Khrom Capital was up 32.5% gross and 24.5% net for the first quarter, outperforming the Russell 2000's 21.2% gain and the S&P 500's 6.2% increase. The fund has an annualized return of 21.6% gross and 16.5% net since inception. The total gross return since inception is 1,194%. Q1 2021 hedge fund letters, conferences and more Read More


“The PayPal fingerprint authentication feature will go live on the Samsung Galaxy S5 in 26 markets this April. PayPal expects more device manufacturers to adopt the technology going forward.”

No posts to display