NXT-ID, Fit Pay, Inc. enter letter of intent to combine businesses

NXT-ID, Inc. and Fit Pay, Inc. have entered into letter of intent to combine their businesses in a deal that includes stock and cash consideration. The press release specifies that NXT-ID will not be raising additional capital to complete this transaction. “This potential transaction with Fit Pay would not only add a critical component to our payment and authentication products, but also a platform which will enable a whole new suite of offerings including payments, credential management, and secure authentication

Oxford Economics study reveals consumers want biometric security measures

Oxford Economics released a study titled “The Future of Money: How digital payments are changing global commerce”, which finds that both consumers and business executives want biometric security measures when using payment methods, according to a report by betanews. The report, for which Oxford Economics interviewed 2,000 consumers and 300 business executives, finds that 70 percent of consumers would like fingerprint scans or facial recognition, and 67 percent iris recognition. Business executives tend to be more traditional, with 64 percent

Singapore’s new digital identity system to include biometrics

The Singapore government is evaluating biometrics, open APIs and e-payments for its new digital identity system, according to a report by GovInsider. “I have asked the team to look at three features in the short term,” Minister in charge of Smart Nation, Vivian Balakrishnan, said in Parliament. “One, to include biometric elements; two, to enable encryption; and three, to have open Application Programming Interfaces.” Biometrics could allow citizens to use their fingerprints to login to services, while the encryption function

National e-payment plan driving biometrics growth in Thailand

Efforts by the government of Thailand are contributing to growth and optimism at companies providing biometric identity systems in the country. The Thai government announced the roll-out of a national e-payment system last year, and the Bank of Thailand seperately notified financial institutions of the need to update customer’s password verification protocols due to fraud. Now, Singapore-based identity management firm i-Sprint Innovations has selected DataOne Asia Thailand as its local authorized distributor, the Bangkok Post reports. “Apart from Singapore, Thailand

Cartes Afrique

Cartes Afrique April 27-28, 2017 Marrakech, Morocco Every year, Cartes Afrique gathers hundreds of leaders and experts of the Payment industry who are looking to learn about the latest innovative solutions in the market and to discuss the evolving role of e-Gov implementation in the region. Through a rich conference program with over 30 conferences, 40 speakers, 12 innovation sessions, 1 day workshops, and a 2,500 m² exhibition space, Cartes Afrique 2017 is undoubtedly the annual event not to be

SmartMetric to provide update on large scale production of its biometric credit card

SmartMetric will be holding a public conference call this Wednesday at 1:00pm PT to provide an update on the move to large scale production for SmartMetric’s biometric credit card that has an inbuilt fingerprint reader inside the card. “It has taken the company many years to develop its leading product that has involved the company in building from the ground up an unbelievable new security solution for the banking and finance industry,” commented SmartMetric’s President and CEO, Chaya Hendrick. “Harnessing

ID4Africa to provide special symposium on financial sector

This year’s ID4Africa conference will offer a mini-symposium on identification in the financial sector focused on both banking applications and payment solutions. The symposium will be held during the three-day ID4Africa event, scheduled for April 26-28, 2017 in Windhoek, Namibia. ID4Africa bills itself as a multi-stakeholder movement that promotes the transparent and responsible adoption of digital ID management in the service of development in Africa and the organization holds an annual forum and an exposition on digital identity and associated

Liquid launches payment service using fingerprint authentication in Indonesia

Japanese firm Liquid Inc. has launched a payment service using fingerprint authentication in Indonesia. According to a report in the Bangkok Post, the joint venture with Indonesian conglomerate Salim Group is aiming for several hundred thousand users, with plans to offer the payment service to the Salim Group’s workforce of around 500,000. “We are looking forward to developing the next generation payment and business platform in Indonesia, which will contribute to changing people’s lifestyle and have a big business impact

EAB presenting Biometrics in Payments session at European Payment Summit

The European Association for Biometrics (EAB) will be presenting a ‘Biometrics in Payments’ session at the European Payment Summit (EPS) on Wednesday, March 8, 2017. The session, moderated by EAB co-founder and Secretary Max Snijder, will provide an up-to-date briefing on developments and trends of biometric applications in financial markets and the transaction space. Onegini and UL TS BV will join the panel discussion. The European Payment Summit (EPS) offers a two day program featuring key developments for and by

Wells Fargo working on voice-based payment capabilities

Wells Fargo & Co. is developing a voice biometrics-based payments offering for consumers that will reportedly expand beyond the basic day-to-day functionality offered by current virtual financial assistants, according to a report by DigiDay. “These digital assistants like Siri or Alexa — these things are just starting,” Steve Ellis, head of Wells Fargo’s innovation group, said. “There’s a really big future here for how our customers interact with us. We are starting to do proofs of concept with information exchange