The Galaxy S8’s iris scanner would be used for secure financial transactions

Both phone manufacturers and banks are coming together to turn the mobile into the tool to make secure payments with the fingerprint sensor or the iris scanner.

Galaxy S8's iris scanner
The idea is that it can also be used to make transactions such as transfers and more banking.

It is the same iris scanner that could be used to make financial transactions early on the Samsung Galaxy S8. This security element currently serves to unlock the terminal, while in the Galaxy Note 7 was used to log into bank accounts.

All types of banking transactions may be carried out

This news comes from South Korea, where credit card companies are looking at the possibility of using the iris scanner to confirm more secure financial transactions with a mobile device.

The idea of Samsung Card Co. is to use the iris scanner through the mobile app so that customers can authenticate financial transactions using that method on their Galaxy S8 or Galaxy S8 plus.

So far, the iris scanner has been used in the Galaxy Note 7 so that users could log in to their accounts, although it was not used at any time to verify transactions, which was the original idea at first.

Shinhan, Hana, and Woori are other major financial companies in that country who are looking at using this method for banking transactions in the not too distant future.

Related