Galaxy S8 iris scanner may soon be used for financial transactions

The Galaxy S8’s iris scanner might soon be used for much more than just controlling access to the device. According to a new report out of South Korea, credit card companies in the country are looking to utilize the iris scanner to enable safer financial transactions on the mobile device.

Samsung Card Co. is reportedly looking to start using the iris scanner through its mobile app so that its customers can authenticate financial transactions by using the iris scanner on their Galaxy S8 or Galaxy S8+.

These companies also wanted to use the iris scanner for authenticating financial transactions when the technology first debuted with the Galaxy Note 7 last year. However, they were only able to use it for logging customers into their accounts and not for verifying transactions. The Galaxy Note 7 didn’t stick around long enough for them to do that.

Other major financial institutions in South Korea such as Shinhan, Hana and Woori are also expected to use the iris scanner for verifying transactions in the near future.

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