Next Biometrics receives fingerprint sensor order for financial inclusion project

Next Biometrics has received an initial purchase order of biometric fingerprint sensors for use in POS devices in India, which will generate NOK 1 million (roughly US$120,000) in revenue.

The order was placed by Next Biometrics’ partner Mobiocean, an Indian fintech for POS devices, much like Next’s recently-announced deal with Pagaria.

The biometric fingerprint sensors are prepaid, and Next expects to ship them during the second quarter of 2021. Additional follow-on orders from the same partner are also expected before the end of the year.

The biometric sensors will be integrated into POS devices for use in financial inclusion projects being carried out by a large cooperative bank to deliver door-step digital banking services.

The Jeevan Praman doorstep financial services program was launched in Telangana last year to ensure accessibility for vulnerable people.

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Aadhaar  |  biometrics  |  financial inclusion  |  fingerprint sensors  |  India  |  Next Biometrics  |  POS  |  stocks