Mobile wallets get fingerprint sensors

NXP Semiconductors and DeviceFidelity are jointly integrating finger biometrics and near field communication (NFC) technology into Android-based phones, reports Market Watch.

The technology, which will be rolled out next year, will enable users to unlock their phones and call up a mobile wallet application with a swipe of a fingertip across an embedded sensor, states Forbes.

Users then can use the app, phone and embedded chip to make contactless payments that are charged to a credit, debit or prepaid card.

The few cellphones currently equipped with NFC in the US, such as Google's Nexus S handset, do not have fingerprint sensors. Instead, they ask users to log in with a password or PIN number.

According to Connected Planet, Juniper expects NFC transactions to rise from $240 billion this year to $670 billion by 2015, while Gartner expects overall mobile payments to reach 141.1 million users this year, up more than 38% from a year ago.