Precise Biometrics offers technology and expertise for authentication using smart cards and fingerprint recognition. The company’s 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 payment option to consumers. The authentication of the cardholder is done by placing the finger on the smart card, making it 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.
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