Under the terms of the partnership between the companies, Interswitch is set to provide Precise Biometrics’ Precise Match-on-Card products and services to financial services providers in Africa. The partnership initially targets banks in Nigeria, the most populous country in Africa which has recently decided to replace magnetic stripe bank cards with chip-based EMV-compliant smartcards.
To assist with the migration, Interswitch is set to launch its Verve card on the Nigerian market, a product which integrates Precise Biometrics’ Match-on-Card features. Precise Match-on-Cards store consumers’ fingerprints on a smart card, allowing the biometric information to function as the cards’ PIN and confirm individual cardholders’ identities. The technology is compatible with to ID, SIM, enterprise and bank cards as well as with access control systems for buildings, computers and networks.
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