Biometric System-on-Card (BSoC) advanced platform, STPayBio, will be available to demonstrate an efficient and competitive solution
As a second step of their announced partnership, Fingerprint Cards AB (Fingerprints) has entered into a commercial agreement (MoU) with STMicroelectronics to bring the joint platform to market.
The platform enables the efficiency of the key features of biometric system-on-card, demonstrating simple user enrollment, very high end-to-end banking transaction and matching performances.
STPayBio integrates ST's payment security technologies, the ST31 Secure Elementwas recently approved byMastercard. The two companies have been working tightly together to optimize all parts of the platform in one solution. The platform eases integration of biometrics into existing card manufacturing processes, enabling global volume deployments, and reducing the total product cost.
"Achieving this second step of STMicroelectronics and Fingerprints collaboration by providing a proven BSoC integrated solution, we are confirming our strong partnership with Fingerprints and have all the key ingredients to provide a commercial solution bringing increased level of security and convenience for issuers and card holders" comments Laurent Degauque Marketing Director, Secure Microcontrollers, STMicroelectronics.
"Biometric payment cards can offer value to consumers across the globe, and demand is growing quickly now that we're seeing commercial launches in Europe," comments Michel Roig, SVP Business Line Payments & Access at Fingerprints. "We're proud to continue this collaboration to reduce cost and remove complexity from the integration process. This is breaking down major barriers for smaller, tier 2 card manufacturers to add biometric cards to their portfolio and, in turn, bring fast, frictionless and hygienic in-store payments to even more consumers."
The companies will start joint go-to-market of the platform, and the solution will be available for customer samples in Q3 2021.
For more information about Fingerprints'paymentsolutions
For further information, please contact:
Michel Roig, Senior VP BL Payments & Access
Investor Relations:
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About Fingerprints
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- 210520 - Fingerprints_STMicro (https://ml-eu.globenewswire.com/Resource/Download/39e1a516-3c26-4b36-913a-1df66cca1e7f)
