Fingerprints and Flywallet developing wearable biometric payment
Fingerprints and Flywallet, a biometric wearables technology startup, are collaborating to develop and launch biometric wearable products for the European market.
Flywallet has built a range of consumer products that support payments, mobility, access and health use cases in a single ecosystem. Among other uses, its products enable secure payments, ticketing and loyalty services; password-free login to online services; and building and car access control.
The wearable products from Flywallet will now feature Fingerprints’ biometric sensors, software and algorithm benefitting from their ultra-low-power consumption, leading performance, and the company’s years of experience in secure biometrics innovation. Fingerprints’ sensors are designed to be multifunctional to enable usage across a range of different form factors to enhance the security, privacy and user experience.
Roger Carrico, Vice President, Head of Sales for Payment & Access at Fingerprints, commented: “Collaborating with Flywallet will accelerate growth of the biometric wearables market in Europe and improve consumer access to new biometric products that enhance convenience and trust. For Fingerprints, this partnership is further evidence that our sensors can easily be integrated with other hardware devices to support the development of secure and innovative biometrics products.”
Lorenzo Frollini, Founder, CEO & CTO at Flywallet, said: “We are pleased to have established a strong partnership with Fingerprints, where we can share an innovative vision on biometric wearables. Together, we are enabling simple and secure biometric technology that people can use to enhance their everyday lives. In an ever-advancing and hyperconnected world, we believe companies that come together will thrive in providing a smooth and secure user experience to access digital services. Our partnership with Fingerprints follows our goal and direction of building a cyber risk-proof interface to connect physical and digital identities, based on the simplicity of biometrics.”
Demand for wearable devices is expected to continue increasing. Most wearables, however, do not have sufficient security measures required for activities such as making a payment or unlocking a car or front door.
By combining biometric authentication with wearable technology, Flywallet ensures only the owner of the device can use it. This enables new possibilities for wearable technology in verticals such as payments and access – key focus areas for Fingerprints, which has dedicated business divisions for improving the safety, security and convenience of payments and access through biometric technology.
Flywallet and Fingerprints will participate at Mobile World Congress (MWC) 2023 in Barcelona, Spain from 27 February through 2 of March, where they will showcase the proof-of-concept wearable product.