Fingerprints gears up for next generation of biometric payment cards
Fingerprints aim with biometric payment cards is to deliver convenient security for all. In the light of current covid -19 situation contactless payment is on a steep rise, even in cash-loving countries like Germany where contactless card transactions have increased from 35% to 50% this year. To address this behavior payment networks are increasing the payment cap around the world. However, with increased cap will come a rise in fraud and worry for consumers, already before this increase 38% of consumers saw security as the key barrier to using contactless card.
Hence, now more than ever, there is an increased consumer need for contactless biometric payments as it offers both safe and secure transactions, without touching keypads for health and hygienic reasons, beyond the payment cap.
As a market leader we feel it is important to be clear and true to our core values and strategic vision and we operate in an open, inclusive and fair mode.
Fingerprints’ proven biometric technology is in use in over 20 contactless pilots across the globe, included in the first commercial biometric bank card, and, earlier this year, it was part of the first global payment network commercially certified biometric payment card.
To gear up for the next generation of biometric payment cards for commercial volume deployment, Fingerprints focus is to scale up with the right partners. Fingerprints will do this by focusing on collaboration with a broad range of leading established smartcard industry partners that have the reach and scale to grow this business to the next phase, and with which we have and will align joint roadmaps. These are:
- Payment Networks
- Top card manufacturers
- Leading Secure Element providers
- Top inlay providers
As Fingerprints broadens its existing partnerships and gears up for the next phase, we will increase our focus.
Fingerprints believe in competition as it creates progress, and in the end better solutions for consumers and society. Therefor we won’t exclude any contributor in our eco-system from the possibility to work with us and harvesting the benefits of incorporating our state-of-the-art biometric sensor and software into their customer offering, as long as we have the same vision and commitment to launch this market and that together we can scale.
With everything we have learned we will drive scale and create a cost efficient solution to serve the volume market as it now starts to ramp up.
“Since we first began our mission to develop biometric payment cards, it has always been clear to us that partnership and collaboration will be necessary for success in this market. Together with our selected and leading partners we are exceptionally well positioned to drive this new, but proven, technology and bring consumers the trust and experience needed for contactless payments.”, Michel Roig, SVP Business Line Payments & Access at Fingerprints.
Fingerprint Cards AB (Fingerprints) – the world’s leading biometrics company, with its roots in Sweden.
We believe in a secure and seamless universe, where you are the key to everything. Our solutions are found in hundreds of millions of devices and applications, and are used billions of times every day, providing safe and convenient identification and authentication with a human touch. For more information visit our website, read our blog, and follow us on Twitter. Fingerprints is listed on Nasdaq Stockholm (FING B).