Shop and pay with your fingerprint

Put your finger on the Home button, and your iPhone unlocks itself. This was made possible last year when Apple introduced the TouchID, a new fingerprint identity sensor built into the iPhone 5S (this year to be launched across other iDevices).

Since then the TouchID has also been used to allow users to approve purchases from the iTunes Store, the App Store, and the iBooks Store. Now Samsung and PayPal have teamed up to allow Galaxy S5 users to purchase items in retail outlets with a simple scan of their fingerprint…

Shop and Pay on-the-go

In June last year I had covered how Homeplus in South Korea had created a virtual store in a subway station in order to blend into people’s everyday lives. Since then Procter & Gamble has set up the same virtual stores in four of the busiest subway stations in Prague and Chinese online supermarket Yihodian has also borrowed the idea and installed virtual supermarkets in 15 subway stations around Shanghai.

This year PayPal has also launched the same QR code shops in 15 Singapore subway stations and enabled commuters to buy Valentines gifts from eight different retailers by simply scanning the QR code on their smartphone…

In USA, PayPal has eliminated the need of a wallet or phone altogether. In a partnership with Home Depot, PayPal has begun to roll out an in-store service that enables payments at stores using only a mobile phone number and a pin number at checkout…

Money is truly being re-imagined and contactless payments is going to be a norm by late 2012.

The Future of Shopping & Money

Shopping is 24×7 and it happens everywhere – not just in a store or website. The intersection of smartphones, social media, online and offline shopping has put the consumer squarely in control. Hence PayPal has released the below hype video depicting what the future of shopping might look like with the introduction of PayPal’s next generation payment platforms, as they aim to re-imagine money…

This new payment platform will be a one-stop shop for merchants to engage their customers directly during every part of the shopping lifecycle…

I can’t wait to start using it! 🙂