Apple announced new Touch ID API better known among the masses as fingerprint ID, which will allow app developers to use fingerprint authentication for mobile payments and other applications.
This means that in addition to protecting the mobile device itself, the technology can now be used also to secure individual applications on the device against unauthorized use. Customers could potentially use prints from different fingers to control different apps. For instance, right thumbprint for access to the device, left index finger for access to the mobile bank app within the device.
The new feature for third party software developers provides a logical progression for the removal of password protection across a range of applications, including payments.
Financial services providers who offer the convenience of a mobile application for their customers can now also offer said customers an additional layer of security for the information that application holds.
