Singapore – March 27, 2014 – Samsung and PayPal announced a collaboration that will allow Samsung GALAXY S5 LTE users to be the first to be able to login and shop at any merchant that accepts PayPal on mobile and in-stores using only their fingerprint as authentication. The new secure, biometric feature means GALAXY S5 LTE users will no longer need to remember passwords or login details across millions of PayPal merchants. PayPal will be the first global payment company to support Samsung’s mobile fingerprint authentication technology.
“We are very excited to partner PayPal to provide consumers with a seamless and secure experience in online shopping and payments on our new Samsung GALAXY S5 LTE,” said Irene Ng, Vice President, Marketing, Samsung Asia Pte Ltd.
“This partnership with Samsung is evidence of PayPal’s abilities to drive innovation in mobile payments and security in Singapore and around the world. Last year, we spearheaded the Fast IDentity Online Alliance and predicted that the industry would soon move beyond passwords. This announcement brings us one step closer to that reality. With this new and secure biometric feature, we eliminate the need for consumers to remember another password, who can instead pay with just one simple swipe of a finger,” said Lawrence Chan, Vice President of Asia Pacific Merchant Services and General Manager of Southeast Asia & India, PayPal.
PayPal provides a secure wallet in the cloud and doesn’t store personal information on the device. Customers can use their finger to pay with PayPal from their new GALAXY S5 LTE because the FIDO Ready™ software on the device securely communicates between the fingerprint sensor on their device and PayPal’s service in the cloud. The only information the device shares with PayPal is a unique encrypted key that allows PayPal to verify the identity of the customer without having to store any biometric information on PayPal’s servers.
PayPal fingerprint authentication on the Samsung GALAXY S5 LTE will be available in Singapore with the launch of the device.
PayPal is the faster, safer way to pay and get paid online, via a mobile device and in store. The service gives people simpler ways to send money without sharing financial information, and with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With 143 million active accounts in 193 markets and 26 currencies around the world, PayPal enables global commerce, processing more than 9 million payments every day. Because PayPal helps people transact anytime, anywhere and in any way, the company is a driving force behind the growth of mobile commerce and processed $27 billion in mobile payments in 2013. PayPal is an eBay (Nasdaq:EBAY) company and contributed 41 percent of eBay Inc.'s revenues in 2013. PayPal is headquartered in San Jose, Calif. and its international headquarters is located in Singapore. More information about the company can be found at www.paypal-media.com.