News from the Wire

Fingerprints supports payment card launches in MENA

Wednesday, November 23, 2022 — 12:56:29 (EST)

Gothenburg, Sweden, Nov. 22, 2022—World-leading biometrics company, Fingerprint Cards AB (Fingerprints™), has announced that its solution will be part of the MENA region’s latest step in its journey toward mass adoption of contactless biometric payment cards as it supports two more commercial launches in Morocco.

This announcement follows previous commercial launches in Morocco with two of the country’s largest banks (BMCI - part of BNP Paribas and Crédit Agricole Du Maroc). All those launches in Morocco are deployed with Thales’ innovative and highly secure biometric payment cards encompassing Fingerprint technology.

As with previous commercial launches, Fingerprints’ proven 1300-series T-Shape module and software platform are driving these latest deployments. Alongside leveraging extensive R&D and experience from eight commercial launches and 24 bank pilots to date, the T-Shape solution is compliant with Mastercard’s new Fingerprint Sensor Evaluation Process. This provides consumers extra security to the ‘tap’ of tap-to-pay, without sacrificing convenience.

Michel Roig, President of Payment and Access at Fingerprints comments: “We are extremely pleased to announce that our solution will fuel two further biometric payment card launches with leading Moroccan banks. Much like the rest of the Middle East, Morocco is a region to watch as it fast becomes an exciting hub for payments innovation, and the continued exciting momentum around biometric payment card deployments reflects this.”

According to the latest data from the Moroccan Monetary Center (CMI), there are 12.1 million contactless cards in circulation. The last 12 months have also seen a significant rise in the technology’s use, with the ratio of card payments being contactless almost doubling from 25% in the first quarter of 2021 to 48.8% in 2022.

“Having quickly embraced contactless card technology after it was first deployed to the region in 2018, Moroccan consumers have come to love the experience, and there is a significant opportunity to offer the next logical step. By integrating Fingerprints’ proven biometric technology, we will further strengthen contactless payment security and convenience for even more consumers in Morocco,” adds Michel.

Visit Fingerprints’ payment solutions to learn more about the technology that is unlocking the next generation of contactless.

ENDS

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).

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Source: Company press release.