Precise Biometrics, a leader in fingerprint software and NXP® Semiconductors collaborate to integrate Precise BioMatch® Card in NXP's contactless biometric smart cards. The cooperation is expected to generate revenues to Precise Biometrics starting Q2 2018.
Precise Biometrics fingerprint authentication software for smart cards is integrated in NXP's contactless fingerprint-on-card solution, which gives payment network operators and banks a secure, convenient and fast payment option to consumers. The authentication of the cardholder is done by placing his/her finger on the smart card, making it easier and faster to make payments, benefitting both retailers and consumers. The collaboration is expected to generate license and support revenues to Precise Biometrics starting Q2 2018, and future royalty revenues.
"We are pleased to collaborate with NXP on biometric smart cards, which strengthens our position as a leader in fingerprint software for smart cards. We see contactless payments growing rapidly, and our combined solution significantly improves convenience for consumers while increasing the security of payments," said Torgny Hellström, Chairman of the Board of Directors at Precise Biometrics.
"With the integration of Precise Biometrics' fingerprint authentication software in our fingerprint on card solution, and with the storage and matching of the fingerprint templates in the Secure element, NXP will deliver the most secure and best user experience solution for contactless biometric card," said Sebastien Clamagirand, General Manager of Secure Payment and Identification at NXP Semiconductors.
This information is information that Precise Biometrics AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 15.00 CEST on June 7, 2018.
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Torgny Hellström, Chairman of the Board
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ABOUT PRECISE BIOMETRICS
Precise Biometrics is a market-leading supplier of solutions for convenient and secure authentication of people's identity. We develop and sell fingerprint software that provide the market's best user experience and security. Our solutions are used hundreds of millions of times every day by people all over the world and are marketed together with strong business partners. For more information, please visit https://precisebiometrics.com Follow us on LinkedIn (https://se.linkedin.com/company/precise-biometrics) and Twitter (https://twitter.com/pbiometrics).