Slideshow 8 Ways Touch ID Is Taking Over Mobile Payments

Published
  • January 09 2015, 12:22pm EST

One of the clearest things that sets Apple Pay apart from other mobile wallets is its incorporation of Touch ID fingerprint recognition. Now that Apple has opened up Touch ID to outside developers, the fingerprint tech is spreading throughout — and in some cases beyond — Apple's ecosystem. (Image: iStock)

Pervading P2P

Though Apple Pay is strictly for use in commerce, the person-to-person payment apps Square Cash, Venmo (a PayPal offering) and Google Wallet (the iOS version) also use Touch ID for authentication. (Image: Bloomberg News)

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Added to Alipay

The Chinese online payments giant, an affiliate of Alibaba, also uses Touch ID. Its app supports fingerprint authentication for online, in-app and in-store purchases. (Image: Bloomberg News)

Also on Android?

Apple isn't the only company with a fingerprint-reading phone. Samsung's Galaxy S5 handset has as similar fingerprint reader, and at the phone's launch PayPal was quick to support fingerprint authentication in its Android app. (Image: Bloomberg News)

A Timely Idea

Touch ID set an expectation that, at least with Apple Pay, there should be some form of biometric authentication for mobile payments. With the upcoming Apple Watch, which doesn't have its own Touch ID sensor, Apple developed an alternative: it disables payments and other functions when the watch's sensors detect it has been removed. (Image: Bloomberg News)

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Cloudy Forecast

Apple Pay and Touch ID could be influential in determining whether banking and payment applications store biometric data in the cloud or locally on a user's device. There are pros and cons to each method, but Apple's choice to store fingerprint data locally makes this the default approach for iPhone-based payments and authentication. (Image: Thinkstock)

Favorable to FIDO

The Faster IDentity Online Alliance (FIDO) has the goal of replacing passwords with more secure technology, including biometric authentication. Nok Nok Labs, a founding FIDO member, established Touch ID as a FIDO Ready product along with the fingerprint reader used in Samsung's devices. Apple is not a FIDO member, but many major tech and payment companies are. (Image: Shutterstock)

Tuned In

Before Touch ID became an integral part of Apple Pay, it had a yearlong run as an authentication measure for iTunes purchases. If consumers balked at this authentication requirement, there would probably be a lot less interest in using it at the point of sale. (Image: iStock)

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Banking and Budgeting

Account-access apps from BBVA's Simple, American Express, Discover and Intuit's Mint all use Touch ID for authentication on compatible Apple devices. (Image: iStock)