Venmo update lets you pay with Touch ID directly from your bank

Gigaom

Social payments app Venmo has added a few new features that make it easier to set up your account as well as pay with a thumb tap if you happen to own a later-generation iPhone.

The newest version of its iOS app will support Touch ID, letting newer iPhone and iPad owners bypass personal identification numbers and instead authorize payments with their thumbprints. Venmo hasn’t extended the feature to Android phones with fingerprint biometrics yet, but its parent company [company]PayPal[/company] (which acquired Venmo when it bought Braintree last year) has released payment apps that make use of the Samsung Galaxy S5’s digit scanner.

Venmo Touch ID

On the banking side, Venmo has penned deals with [company]Chase[/company], [company]Wells Fargo[/company], [company]Bank of America[/company] and [company]Citibank[/company] to use their online and mobile credentials to directly link to the Venmo app. Venmo, like other automated clearing house (ACH) financial services, moves money directly in and…

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