A Samsung Gear Live Smartwatch is Displayed at the Google I/O Developers Conference in San Francisco
A Samsung Gear Live smartwatch is displayed at the Google I/O developers conference in San Francisco June 25, 2014. Google Inc's Android software is coming to cars, televisions and watches this year, as the Internet search giant races against Apple Inc and other tech companies to extend its business into a rapidly broadening field of Internet-connected devices. REUTERS

Samsung is known for its best in smartphone and smartwatches. They have always excelled in their technology, design and build of their products. But competition from Apple that introduced the Apple Pay accepted in most stores across U.S. has made Samsung include the payment option in their next smartwatch.

In the Mobile World Congress in 2015, Samsung will release a smartwatch that will have mobile payment included in it. This could be the first time that a Samsung device may not require a swipe to register the users fingerprint. According to Business Korea, Samsung is working with PayPal, the world famous financial transaction company and Synaptics an international company known for its biometric technology.

Samsung and PayPal have already teamed up to enable making payments with the Galaxy S5 using fingerprint sensor and it would be natural for both the companies to extend their relationship further into developing a system for the smartwatch.

In an interview with Business Korea, an unidentified high ranking Samsung official said that Samsung is currently working to develop a smartwatch that will be equipped with fingerprint identification technology in cooperation with Paypal and Synaptics that specializes in biometric verification. The third generation of smartwatch to be released next year will have a system that will authorize payments immediately when the user identifies themselves through biometric sensors such as fingerprint or login.

Inclusive of this the smartwatch will also have an app that will inform customers of promotions from nearby stores. This would let customers select goods that they are interested in without entering the store and they could use the smartwatch to make payments when the receipt is generated. This will be available in 50 countries worldwide. This is meant to take on Apple Pay that will be available only in the U.S.

This year, Samsung unveiled the Gear 2 and Gear 2 Neo, Gear S and Gear Live. But Samsung is planning big for the next year taking the smartwatch to the next level.

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