The fingerprint reader in Apple’s new iPhone 5s is getting most of the spotlight in the early reviews we’ve seen. That’s to be expected, really, considering it’s the one notable feature most every day consumers will notice and that will change existing behaviors. The new A7 processor, the M7 motion coprocessor, the 15% larger camera sensor, and the marginally improved battery aren’t going to be noticeable to most people in daily use. But that fingerprint reader… it has definite possibilities.
Serial entrepreneur Jack Dorsey, founder of Twitter and mobile payments company Square, agrees. Because fingerprint security offers a new level of protection for users, it’s not hard to see why companies in the financial industry would be excited. It’s one part convenience and one part security.
Bloomberg did an interview with Dorsey discussing the iPhone 5s fingerprint reader, Square Wallet and last but not least, Twitter’s upcoming IPO, which you can watch below.
If you think about everything that we carry on our phones these days, there’s a lot of sensitive information and a lot of personal information. And the phone carries all of that. And if you have a way to protect it in a better way, in a more human ways, which I think is really the – the intention of the fingerprint. It’s not necessarily better security but it’s just more human and more natural and more organic. So for us it means that people are protecting their phone in better ways. And if it’s turned on by default, that’s great. That means mobile wallets like Square Wallet are protected naturally with a very human interaction.
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