April 30, 2014
Through a recent blog post on dribble.com, Ricardo Del Toro, an interface designer and software developer,shared his idea of a new kind of mobile payment concept called ‘EasyPay’ to leverage the Touch ID on the latest iPhone model. The idea behindEasyPay is to develop an API for developers that could make use of Touch ID and integrate it into the branded mobile payment apps. During checkouts, one would simply have to touch the home button to initiate the Touch ID and the payment would be taken care of in a jiffy.
As our readers know we have written extensively about Touch ID and its potential role in payments.On September 2014, an article was posted citing the revolution Touch ID could bring in security and payments. Some major aspects discussed were collaboration of fingerprint with cloud service, one-finger tap logins to apps, data encryption and security related to payments.
Now, payment systems like EasyPay could work quite well in the retail environment. For e.g., at retail checkout system, simply ask the cashier to put the tab on EasyPay. A runtime notification would be sent to the iPhone using iBeacon technology at the counter itself. Then all the customer will have to do is slide to access the notification, review the bill and the payment gets done automatically.
But this is not where the scope of Touch ID could end. Hypothetically, many different forms of services can be developed around the touch ID. One could be to offer an API service for Touch ID login authentication via iCloud. This would be similar in nature to Facebook and Google login authentication and could provide intensive security capabilities for mobile apps as well as online banking. If Apple focuses on delivery of confidential fingerprint data from the device to a secure server and subsequently provide API service, then many digital identity related problems could be solved.
In enterprise space, touch ID could be used through an SDK to digitally sign documents by using in-built apps like the iWork. This could create a new DocuSign service finding use in cases involving financial documents. The touch ID can be used to create multiple profiles on a single device. Imagine using different fingers to access different profiles generated. In case of mobile payments, different types of payment cards can be stored with different profiles in the device. This would enable an enhanced mobile wallet security feature.