From The Korea Herald report, it looks as though Samsung is looking forward to using the iris scanner on the Galaxy S8 for financial transactions, presumably through payment systems such as Samsung Pay.
The feature is expected to be enabled in South Korea and in parts of North America, although there is no mention of when that will be happening.
The iris scanner which was originally on Galaxy note 7 has been incorporated as well in Galaxy S8, which predominantly is said to be more secure than other biometric forms of security such as fingerprints. This is also why it doesn’t surprise us that the feature could be used to facilitate financial transactions in the future.
Iris scanning was part of the Note 7 and financial institutions in Korea. It actually allowed users to log into their accounts using the feature, but this will be the first time that transactions can be made and verified using the iris scanning technology on the phone.
Assuming that this is successful, we wouldn’t be surprised if in the future more phones were to include the feature.
As it stands Apple is also rumored to be looking into alternate means of security beyond the fingerprint, such as a laser scanner that can be used to scan the faces of the user to authenticate them.