It looks like Samsung's new Fingerprint ID scanner coming in the Galaxy S5 won't just be for unlocking your device and showing it off to your friends. PayPal has teamed with Samsung to create a new Fingerprint ID payment authentication system. This will basically allows owners of the Galaxy S5 to shop at merchants where PayPal is accepted and use the fingerprint scanner to login, with no username or password required. Here's a quote with more of the details,
It's about time we started seeing useful reasons to have a fingerprint scanner on a smartphone! What do you think about this? If NFC starts to take off, then this could be the most secure way to shop anywhere.PayPal says that it provides a secure wallet in the cloud and doesn't store any personal information on the user device. The user will be able to scan a finger to pay on the S5 since the smartphone is FIDO Ready with software that securely communicates between the fingerprint scanner on the device and the PayPal service in the cloud.
The only data shared between the fingerprint sensor on the device and the PayPal service in the cloud is a unique encrypted key allowing PayPal to verify the customer without the need to store biometric into on the PayPal server. PayPal says that the fingerprint authentication service will launch in April and will be offered in 26 markets globally.