Dive Brief:
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Apple’s new iOS8 mobile software upgrade expands its Touch ID fingerprint technology to apps outside Apple's own App Store and iTunes.
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The fingerprint authentication technology has allowed iPhone users to unlock their phones and make purchases of apps and digital items without entering usernames or passwords.
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While the announcement generated a lot of excitement at Apple’s 25th annual Worldwide Developer Conference, Apple didn’t say if customers would be able to make purchases in stores or via mobile payment apps any time soon.
Dive Insight:
While Touch ID doesn’t now facilitate mobile payments beyond purchases of apps and music from Apple, many at this year’s 25th annual Worldwide Developer Conference said they believe its application in secure mobile payments is just around the corner. That could entail using Apple's iTunes as a PayPal-like payment service.
PayPal or Square may not be happy about that, but in an era when consumers are leery of pulling out their plastic credit cards or using mobile wallets, it’s something that retailers and shoppers alike would welcome.