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Fingerprints and M-Tech collaborate to develop contactless biometric payment card for the Indian market

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Fingerprint Cards AB
·2 min read
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World-leading biometrics company, Fingerprint Cards AB (Fingerprints™) and M-Tech Innovations Ltd, a leading smartcard manufacturer of India, are collaborating to launch contactless biometric payment cards in the Indian market. The card features Fingerprints' T-Shape® module which is part of the FPC1300-series, it has ultra-low power consumption and is tailored to be integrated in payment cards using standard automated manufacturing processes.

“We are pleased to collaborate with M-Tech, being a local card manufacturer and a leading payment innovator in India. This is an important collaboration to bring consumers in India a more secure, safe and easy payment experience”, says Michel Roig, SVP Business Line Payments & Access at Fingerprints.

Contactless and digital payments are growing fast in India, as consumers are choosing touch-free, safe and seamless ways to pay. Adding biometrics to the contactless payment card will increase the security needed to remove the cap, currently at Rs 2,000, completely and allow for hygienic and worriless contactless payments for all transactions.

“We selected the biometric solution from Fingerprints since they have the leading technology in the market, with proven biometric performance and the lowest power consumption, which is of the highest importance for contactless biometric cards. Introducing biometric payment cards will offer great benefits for both banks, merchants and consumers as contactless payments in India is growing fast”, says V. M. Gandhi, CEO at M-Tech.

For further information, please contact:
Michel Roig, Senior VP BL Payments and Access

Investor Relations:
+46(0)10-172 00 10, investrel@fingerprints.com

+46(0)10-172 00 20, press@fingerprints.com

About M-Tech
M Tech Innovations Ltd (m-techindia.com), accredited as a leading and certified RuPay, Visa and Master Card manufacturer from India, offers high tech and end-to-end solutions. Our coherent products cater a wide range of industries like banking, telecom, automobile and electronics industry. The company certified by ISO/ TS 16949: 2009 offers automotive division manufacturing of automotive dials, IMD panels and membrane keypads. Our banking products, smart card solutions and the automotive products are preferred by various industries in India and abroad.

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).