STMicroelectronics and Fingerprint Cards Cooperate to Develop and Launch an Advanced Biometric Payment Card Solution

It may let banks raise or remove the maximum allowable transaction value for contactless payments, said Laurent Degauque, Marketing Director, Secure Microcontrollers, STMicroelectronics.

Metadata

Provider:

GlobeNewswire, Inc.

Retrieved on:

Thursday, July 9, 2020

Information

Tags:

Economy, Money, Payment systems, Finance, Mobile payments, Contactless payment, EMV, Radio-frequency identification, Contactless, Fingerprint Cards, Payment card

Geotags:

Geneva, , Ch

Organisation:

STMICROELECTRONICS N.V.

Summary

Key Points:

It may let banks raise or remove the maximum allowable transaction value for contactless payments, said Laurent Degauque, Marketing Director, Secure Microcontrollers, STMicroelectronics.
Fingerprint Cards brings valuable and market-proven expertise in solutions for battery-less and space-constrained devices.
Their products combining powerful processing and low energy consumption are ideal companions to our STPay solutions for payment cards .
The contactless payment card will be the first target under the agreement, with the intention to extend to other markets such as identification, health, access, and transportation cards.

STMicroelectronics and Fingerprint Cards Cooperate
to Develop and Launch an Advanced Biometric Payment Card Solution

Co-development of Biometric System-on-Card (BSoC) platform to offer an efficient and competitive solution to card manufacturers for the banking market
Advanced features to enhance consumer convenience and security
Combines latest generation of STPay secure-payment technology with Fingerprints’ biometric solution expertise

Geneva, Switzerland and Göteborg, Sweden, July 9, 2020 – STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, has teamed with world-leading biometric company Fingerprint Cards AB (Fingerprints) to develop an advanced Biometric System-on-Card (BSoC) solution based on fingerprint-recognition technology, addressing the market demand to enhance contactless payment-card security and convenience.

The BSoC integration combines ST’s latest-generation secure-payment technology based on the ST31/STPay chipset and STM32 general-purpose microcontrollers with Fingerprints’ next-generation T-shape sensor module to provide a turnkey battery-less secure solution for the banking market.

“Cost-effective and user-friendly biometric authentication will significantly increase the security level and user convenience of banking transactions. It may let banks raise or remove the maximum allowable transaction value for contactless payments,” said Laurent Degauque, Marketing Director, Secure Microcontrollers, STMicroelectronics. “Fingerprint Cards brings valuable and market-proven expertise in solutions for battery-less and space-constrained devices. Their products combining powerful processing and low energy consumption are ideal companions to our STPay solutions for payment cards.”

The contactless payment card will be the first target under the agreement, with the intention to extend to other markets such as identification, health, access, and transportation cards.

Michel Roig, SVP for Payments and Access BL at Fingerprint Cards, added, “This is a powerful collaboration to create innovative and optimized solutions that not only make it easier for card makers to integrate biometrics in their portfolio, but also bring the total cost down. In the end, strengthening the security for contactless payments will offer consumers a worry-less payment experience.”

Running on ST’s flexible Java Card™ / Global Platform^® Operating Systems (OS), ST’s STPay secure-payment products ensure support for multiple international and regional payment schemes, with proven security features built-in. STPay solutions benefit from EMVCo and CC EAL 6+ hardware certifications, software certifications up to OS and application level, and ST’s secure pre-personalization services that create an inherently trusted supply chain.

Please visit https://www.st.com/banking-biometry for further information on ST’s electronic ID and payment products.

Please visit https://www.fingerprints.com/solutions/payments/device-manufacturers/ for more details on Fingerprints’ solutions for payment-device manufacturers.

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).

About STMicroelectronics
At ST, we are 46,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An independent device manufacturer, we work with our 100,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of the Internet of Things and 5G technology. Further information can be found at www.st.com.

For Press Information Contact:

Michael Markowitz
Director Technical Media Relations
STMicroelectronics
Tel: +1 7 81 591 0354
Email: michael.markowitz@st.com

Michel Roig
Senior VP BL Payments and Access
Fingerprint Cards AB
Investor Relations: +46(0)10-172 00 10, [email protected]
Press: +46(0)10-172 00 20, [email protected]

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