PayPal will launch a fingerprint authentication service in 26 countries and territories including Hong Kong, Singapore and Australia starting April, a senior executive said Wednesday.
The service, available on Samsung Galaxy S5 handsets, will allow PayPal to diversify its model from traditional retail transactions to customer payment services, James Mirfin, country manager for Hong Kong, Korea and Taiwan, told a media briefing.
Fingerprint authentication will replace passwords, improving security.
PayPal dismissed concern over potential competition from Alipay, the third-party payment unit of Chinese internet giant Alibaba. “PayPal accepts a broader base of currencies and offers protection for buyers and sellers,” Mirfin told a media briefing.
Most cross-border trades in China involve electronic and retail products, fashion, collectibles and digital goods, the company said.
– Contact HKEJ at digest @ejinsight.com