NEXT Biometrics to Start Sampling Dual Interface Smart Card Solution

OSLO, Norway, Jan. 23, 2019 /PRNewswire/ -- NEXT Biometrics (Oslo Bors: NEXT), a global leader in fingerprint sensor technology, today announced that it will start sampling its dual interface smart card solution (One Touch Flex CL) early in the second quarter of 2019. The solution enables NEXT's unique technology to be used with contact and contactless smart cards, including payment cards.

NEXT One Touch Flex combines the high security and accuracy levels of the Company`s flexible, large area fingerprint sensors with the ease and convenience of dual interface smart cards. The biometric card module is capable of performing one touch fingerprint enrollment and verification operations on a dual interface smart card by solely harvesting power from a standard ISO/IEC 14443*   NFC reader.

"This is a key milestone in our Company strategy and we are excited to be part of the development of these next generation dual interface smart cards," said Ritu Favre, CEO of NEXT Biometrics. "We are convinced that card issuers and their customers will greatly benefit from the smooth and reliable fingerprint enrollment and verification that our technology offers."

Independent research in several countries shows that consumers are willing to abandon PIN codes and passwords in favor of more convenient yet safer fingerprint authentication for smart card transactions. Adoption of biometric smart card technology is projected to gain a foothold in the market from 2020 onwards. Market size for biometric smart cards is expected to reach up to USD 800 million in 2022 with payment cards accounting for some 60 percent, Government ID for some 25 to 30 percent and transportation and access control applications for some 5 to 10 percent of total market volume.

Based on NEXT`s unique fingerprint sensor technology, enhanced user experience and excellent cost-sensor size-ratio, the Company is ideally positioned to gain a significant position in this sector. The NEXT One Touch Flex biometric dual interface smart card subsystem has been specifically designed to meet the card industry`s requirements for ISO compliance, interoperability, and durability. It integrates with state-of-the-art smart card chip and operating system technologies and is suited for standard card manufacturing technologies.

*ISO/IEC 14443 is an international standard that defines contactless smart card interface and transmission protocols

NEXT Media contact:

Tanja Moehler, [e-mail]

NEXT Investor contact:

Knut Stalen, [e-mail]

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SOURCE NEXT Biometrics

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