PayPal being the mostly used method of payment should be cautious on the security measures they adopt. With the invention of Galaxy S5, PayPal initiated an agreement to have clients use their fingerprints to login to their PayPal accounts. Was this a move to ensure more stringent security measures or it exposed the clients to more security threats? This question necessitates the analysis of advantages and disadvantages of finger prints and password for PayPal.
Advantages and disadvantages of using fingerprints for PayPal
Not everybody is conversant with Galaxy S5's technology and also not all people who use touch screen devices are familiar with this feature. This means that fingerprint strategy could not benefit all users of PayPal but only those using Galaxy S5 or those with such know-how.
It makes it easier for customers to forget their passwords. Most PayPal users have been using passwords to log in to their PayPal accounts. The introduction of fingerprints would probably make it easier for them to forget their passwords. This would mean that in case one has cuts on the fingerprints, it will be hard to open PayPal. In case they cannot recall their passwords, it will be hard for them to use the services.
One can be forced to login to their PayPal using fingerprints even on phones not their own. This is not the case with passwords since they are secret. Fingerprint is not secret. One can try all fingers and one of them must work. For password, one can try all times and fail to login.
One advantage of fingerprints is that even if one knows the finger that you use to login, they cannot login to your PayPal. This is because they will need to have your finger for them to login. This is not the case with password.
A person can use your finger only when you are asleep and login to your PayPal. This is not the case with password. One can only use it if they know it.
Advantages and disadvantages of using password for PayPal
Password is more secretive than fingerprints. It is hard for one to guess the password but one can be forced to key in their fingerprints. Password remains a secret unless the owner discloses it. For fingerprints, one can see the finger you use to login and they can force you to login.
Password can be hacked and information retrieved. In this case, one will be able to enter your PayPal account and perform illegal transactions. Fingerprints cannot be hacked because they can only be recognized by fingerprint scanner when you place your finger.
The main reason for having accounts which can only be accessed by the owner unless they authorize another person is to ensure secrecy in transactions. Therefore, what matters most if a login system that is most secretive. This leaves use of password for PayPal as the most trusted way to access one’s account. Use of fingerprints may sound to be a good technology but it is not as secretive as a password. One can always see the finger that you use to login. For password, the details can only leak when the owner discloses them.
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