How Jack Dorsey Thinks Apple's New Fingerprint Sensor Will Help Square

Jack dorseyAsa Mathat | All Things DigitalJack Dorsey is the co-founder of Square

With Apple set to release the
iPhone 5C and 5S on Sept. 20, there’s been much buzz about one of its features — Touch ID — that will allow users to use their fingerprint to access their phone. There’s been speculation that this feature is the final
nail in the coffin of Internet privacy, while
others are excitedabout Apple’s latest innovation.

Jack Dorsey, co-founder of both Twitter and Square sat down with Bloomberg West’s Emily Chang yesterday in Detroit, Michigan for his first one-on-one interview since announcing Twitter’s IPO and spoke to his own opinion of the fingerprint sensor, and what that means for Square’s growing place in e-commerce.

The context here is that many people believe fingerprint security will do more for e-commerce than it will for your privacy and security. Touch ID could therefore help or hurt Square, if it becomes powerful in the mobile payment ecosystem. Dorsey says he sees it helping Square:

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.

Dorsey and Chang spoke about Dorsey’s love for Detroit, his vision for Square’s place in the world of commerce, and of course, Twitter’s initial public offering.

You can watch a clip of the interview below:

You can watch the entire interview here.

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