Visa announces pilot for biometric payment cards

Visa has announced pilot projects for a new EMV dual-interface biometric payment card with chip and contactless transaction capabilities in partnership with Mountain America Credit Union and Bank of Cyprus. The payment cards in both pilots have embedded sensors from Fingerprint Cards’ FPC1300-series. Biometric technology supplied by Gemalto is used in the Bank of Cyprus pilot, while the Mountain America Credit Union pilot utilizes Precise Biometrics’ Precise BioMatch Embedded algorithm solution, as well as technology provided by Kona-I. “I am

Precise Biometrics appoints new CEO

Precise Biometrics has appointed Stefan K Persson CEO. Current CEO Håkan Persson has resigned effective immediately. Stefan K Persson is currently an EVP with the Bang Olufsen Group and will assume his new position by August 1, 2018. Until then Göran Thuresson, CFO, be acting CEO with Torgny Hellström as Executive Chairman. “I am very pleased to be part of Precise Biometrics future journey and drive the company to the next level,” said Persson. “Biometrics is an extremely interesting area

Precise Biometrics expands licensing agreement with Crossmatch

Precise Biometrics has expanded its licensing agreement for Precise BioLive anti-spoof technology with Crossmatch. The previous license agreement with Crossmatch, which was transferred to Precise Biometrics as part of the acquisition of NexID Biometrics in February 2017, covered anti-spoof technology for 4-finger scanners. This agreement enables Crossmatch to continuously enhance the security of its single fingerprint scanners through liveness detection and gives Precise Biometrics annual revenues for the right to use the company’s algorithm solution and for support. The agreement

Precise Biometrics and FPC technology featured in smart card demos by ManeulLab

South Korea’s ManeulLab recently showcased a range of smart card versions at the Trustech event in Cannes which featured the 1300 series of fingerprint sensors by Fingerprint Cards and Precise Biometrics’ algorithm solution for fingerprint recognition in smart cards, Precise BioMatch Embedded. ManeulLab is an innovator in the smart cards market and has a range of card versions combining several functions with an integrated fingerprint sensor on them which can be used as payment, access or ID cards. These cards

Precise Biometrics reports sales drop in tough capacitive sensor market

Competition in the capacitive sensor market caused a drop in sales for Precise Biometrics in Q3 2017, resulting in an operating loss, the company said as it reported its quarterly financial results. Net sales declined 56 percent year-over-year to approximately SEK 10.1 M, and the company’s operating margin fell 64 percent to a loss of SEK 6.5 M. Precise Biometrics CEO Håkan Persson said that a small number of companies with competitive advantages from early market entry dominate the market

Biometrics industry stocks this week

As the biometrics industry continues to grow, Biometric Update is bringing a new focus to the stories around the stocks in the sector. Check in with this space each week for a rundown of the financial news and interesting ideas from the week that was. Markets continue to trade near record highs. Why this continues to be the case was the subject of an interesting letter released this past week by controversial, high-profile New York-based hedge fund manager David Einhorn,

Precise Biometrics revises full-year 2017 revenue from $9.9 M to $8.4 M

Precise Biometrics has revised its revenue guidance for the full-year 2017 from its previous guidance of around SEK 83 million (US$9.9 million) to revenues in the range of SEK 60-70 million (US$7.2-8.4 million). The company attributes the lower revenue projections to the strong competitive landscape of its customers, which has prevented them from increasing sales in line with Precise Biometrics’ previous projections. As a result of the weaker sales development, Precise Biometrics will show an operating loss. This deviates from

Precise Biometrics upgrades its fingerprint solution for smart cards

Precise Biometrics has upgraded its market-leading fingerprint solution for smart cards. In an effort to lower total product costs, Precise BioMatch Embedded now supports even smaller fingerprint sensors with an area down to 30 mm2 and constrained MCU’s that enable power efficient biometric smart cards, while meeting the biometric performance requirements set by the payment card industry. In addition to supporting even smaller fingerprint sensors, Precise BioMatch Embedded offers the highest security in fingerprint authentication by addressing both biometric performance

Precise Biometrics enters licensing agreement with sensor manufacturer Haptrics

Precise Biometrics has entered into a commercial software license and distribution agreement with Korean sensor manufacturer Haptrics for the licensing of Precise BioMatch Mobile. Precise BioMatch Mobile is a patented hybrid algorithm solution optimized for small fingerprint sensors and platforms with limited processing power and memory space. The agreement gives Precise Biometrics annual revenues for the right to use the company’s algorithm solution and for support. The agreement also generates licensing revenues based on the number of sold sensors from

Precise Biometrics algorithm solution integrated in CardLab biometric card reference design

Precise Biometrics’ algorithm solution for fingerprint recognition in smart cards, wearables and IoT, Precise BioMatch Embedded, has been integrated in a biometric card reference design from CardLab. The integration is a result of the cooperation with Fingerprint Cards who recently announced that its T-Shape module has been integrated in CardLab’s biometric card reference design. In February 2017, CardLab was granted support from the EU Commission under the Horizon 2020 program with the scope to embed a fingerprint sensor solution in