FB pixel

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 has the highest potential for biometric identity usage in Southeast Asia thanks to burgeoning digital banking services,” said Dutch Ng, co-founder and CEO of i-Sprint.

I-Sprint opened an office in Thailand six months ago, and has reached a 70 percent market share in Thailand’s commercial banking sector. DataOne Asia Thailand expects its cybersecurity and identity management revenue to make up 30 percent of its total on the year, up from 20 percent in 2016. It expects revenues from i-Sprint products will reach 100 million baht (approximately $2.85) within 3 years.

Growth in fintech services, as well as cyber attacks, are also likely to encourage biometric use in Thailand.
Thailand’s telecom regulator also introduced a fingerprint ID system for SIM card registration in February.

Article Topics

 |   |   | 

Latest Biometrics News

 

IOTA’s Web3 IDV project one of 20 projects invited to play in EU sandbox

The European Blockchain Regulatory Sandbox has selected the use cases to be featured in its second cohort of sandbox dialogues….

 

New eIDAS-Testbed runs first successful tests on European Digital Identity Wallet

The entourage forming around eIDAS continues to grow, as the EU regulation pushes Europe toward a digitized society activated through…

 

UK Peers slam Ofcom refusal to require biometric age estimation for under-13s

Ofcom’s draft Children’s Safety Code of Practice will leave millions of young people exposed to online harms the legislation behind…

 

Physical documents still crucial amid slow transition to digital IDs: Regula study

A recent study commissioned by Regula has concluded that digital IDs are not yet poised to replace physical documents in…

 

Decentralized biometric system proposed for privacy in ICRC aid distribution

Wouter Lueks, faculty member at the CISPA Helmholtz Center for Information Security in Germany explained a proposed system for digital…

 

Privado ID to tackle global demand for decentralized digital identity software on its own

Privado ID, previously known as Polygon ID, has officially separated from Polygon Labs to address the increasing global need for…

Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Most Read This Week

Featured Company

Biometrics Insight, Opinion

Digital ID In-Depth

Biometrics White Papers

Biometrics Events