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Samsung’s Next Smartwatch Will Have PayPal Mobile Payments, Fingerprint Scanner

Michael Moore joined TechWeek Europe in January 2014 as a trainee before graduating to Reporter later that year. He covers a wide range of topics, including but not limited to mobile devices, wearable tech, the Internet of Things, and financial technology.

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Company executive confirms new features to come at MWC 2015

Samsung is reportedly teaming up with PayPal to offer mobile payments in the next edition of its next Galaxy Gear smartwatch, according to an interview conducted with a company executive.

The Korean manufacturer appears to be following in the footsteps of its great rival Apple, which earlier this month announced that its upcoming Apple Watch would support similar technology, allowing customers to make quick payments using their device.

In an extremely candid interview with South Korean site Business Korea, a “high-ranking” Samsung executive confirmed that mobile payments technology would be one of several new features present in the third generation of the company’s wearable device, which will be unveiled next February at Mobile World Congress 2015.

“We are currently developing the smartwatch equipped with fingerprint identification technology and relevant solutions through cooperation with PayPal, the world’s most renowned financial transaction service company, as well as Synaptics, a global company specialized in biometric verification,” the executive said.

“By the earliest, the third generation smartwatch to be released early next year will have this new system in which payment is authorized immediately when users identify themselves through biometric sensors such as a fingerprint or login”.

Group_Galaxy Gear 2Quick and easy

The new payments service would also include an app to inform customers of promotions from nearby stores, allowing them to pre-select goods before entering, and then paying at the checkout with their smartwatch.

Samsung will be looking to launch the payments service in more than 50 countries, but will need to create an all-new offering for its home nation of Korea, which does not currently have PayPal support.

The company previously teamed up with the payments provider to provide a similar service in its recent Galaxy S5 smartphone, which also featured a fingerprint scanner.

The most recent incarnation of Samsung’s Galaxy Gear smartwatches (pictured above) were only launched last move, powered by the company’s own Tizen operating system and featuring full cellular functionality as well as several sensors for capturing fitness related measures such as heartbeat.

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