According to a report published by Business Insider, PayPal is looking to integrate forthcoming iOS 8 Touch ID fingerprint recognition APIs into its mobile payment App. Apple unveiled the Touch ID API during its WWDC keynote for developers and users. A team of PayPal developers attended the WWDC session focusing on hardware-based security system. Integration of Touch ID and payment services is the next logical step for Apple’s secure fingerprint scanning solution.
Currently, Touch ID is limited to iPhone 5s and is only used to unlock the handset or authenticate purchases through iTunes. It is expected that Apple will incorporate Touch ID into every new iOS device introduced in 2014 including iPhone, iPod and iPad. PayPal is actively considering the implementation of this secure payment system. This will give PayPal a head start on Apple, which is currently working on its own mobile payment service in conjunction with several major payment processors.
With a vast user base and millions of credit cards on file, the iOS-iTunes ecosystem is suitable for a fast and secure mobile payments solution. Touch ID integration solves the storage and recall of financial data part along with giving a secure payment option.
Image: Courtesy of 9To5 Mac