Fingerprint Cards AB (Fingerprints) and Valid, the global payment technology provider and integrator of secure solutions for identification, mobile and payment ecosystems, have partnered in developing a biometric payment card for the Brazilian market. The card, which features Fingerprints' proven biometric technology, will offer new levels of contactless security, convenience and hygiene.
The cards, manufactured by Valid, will feature Fingerprints' second-generation T-Shape® (T2) sensor module and software platform. The biometric payment card will be unveiled at Sao Paulo's Febraban Tech event in June 2024.
Despite consistent and significant contactless payment growth in Brazil since the pandemic, there are still consumer concerns around security. The region's preference for contactless, combined with its familiarity with biometric technology, demonstrates the ecosystem's readiness for the next generation of payment cards.
According to Brazil's National Monetary Council Resolution 3694/09, financial institutions must 'ensure the integrity, reliability, security and confidentiality of transactions, services and products'. By leveraging a unique physical characteristic to authenticate payments, new levels of security are achieved with biometric payment cards. This can help banks align with regulation and reduce in-store payment fraud, and the associated costs of both. Banks that lead the way in payment innovation are also afforded an attractive brand image.
Adam Philpott, Fingerprints' CEO, comments: "Brazil and the wider Latin America region is increasingly being recognized as a hub for payment innovation. I'm very pleased that Fingerprints can support Valid in adding this biometric payment card to its product portfolio. The card's high level of security will help reduce fraud while enhancing the user experience, thereby aiding banks in customer acquisition. We anticipate that several banks in the region will soon adopt biometric payment technology."
Visit Fingerprints' payment solutions and Valid's card solutions to learn more about the technology that is unlocking the next generation of contactless.
For further information, please contact:
Adam Philpott, President & CEO
Investor Relations:
+46(0)10-172 00 10, investrel@fingerprints.com
Press:
+46(0)10-172 00 20, press@fingerprints.com
About Valid
Valid (B³: VLID3 - ON) makes your digital life more secure with solutions that ensure security-based technologies for document identification, mobile security, SIM cards, digital certifications, banking applications, transportation services and anywhere else client data is located. With 6,000 employees in 16 countries, we take into account the particularities of each culture and region to create customized and integrated solutions, making Valid a relevant global player when it comes to online lifestyle. Our ability to safely identify objects, transactions and people makes the Company the largest issuer of identification documents in Brazil, the fifth largest producer of SIM Cards in the world and one of the top 10 global manufacturers of banking cards. When you are online, Valid protects you. For more information, go to www.valid.com
About 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).
