Last week the U.S. Patent & Trademark Office published a patent application from Samsung that reveals their experimentation with a new identification process that differs from current competing biometric systems like Apple's Touch ID. Samsung believes that a smartwatch could learn the user's vein pattern to provide security ID for opening apps through to credit card payments.
In the end, Fingerprint ID can easily apply to any number of wearables device whereas vein pattern ID is a little more complicated with limited viability. While it's an interesting alternative identification methodology, it's hard to see this becoming popular. It's hard to see this method as one that could be trusted by the banks. And lastly, some guy's hands are awfully hairy and this form of ID isn't going to work, period. For more details on this invention, see Patently Apple's full report here.