“…independent market research has indicated that the biometric smart cards market could reach $800 million in 2022, with biometric payment cards accounting for 60 percent marketshare.”
NEXT Biometrics will start sampling its dual interface biometric payment card in the first half of this year. More specifically, the company has asserted that sampling will begin “early in the second quarter” of this year, according to a newly issued statement.
The timeline indicates that NEXT Biometrics remains focused on developing its biometric payment cards business, with a number of financial services leaders betting that this will emerge as a major new trend in the payments industry over the next couple of years. NEXT Biometrics has established multiple partnerships in this area, and has already shipped fingerprint scanning biometric smart cards in collaboration with Singapore-based Tactilis.
In announcing its sampling plans, NEXT Biometrics said that its One Touch Flex biometric payment card solution operates by harvesting power from a standard ISO/IEC 14443 NFC card reader, adding that it “has been specifically designed to meet the card industry’s requirements for ISO compliance, interoperability, and durability.” The company also said that independent market research has indicated that the biometric smart cards market could reach $800 million in 2022, with biometric payment cards accounting for 60 percent marketshare.
Elaborating further, the company’s CEO, Ritu Favre, emphasized the importance of the sampling schedule in terms of the NEXT Biometrics’ broader plan. “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,” she said.
(Originally posted on FindBiometrics)