South Korean fintech firm Kona I plans to launch a biometric smart card that features an embedded fingerprint sensor. (Image Courtesy of Youtube)
SEOUL, May 26 (Korea Bizwire) – South Korean fintech firm Kona I plans to launch a biometric smart card that features an embedded fingerprint sensor, reported industry officials. The new model will be highly useful for security purposes including building access or for ID card use.
“The technology will replace password or authentication certificates in confirming identification, not only in the security industry, but also in the financial and IoT sectors,” said CEO Cho Jung-il. A biometric credit card, for instance, would become active and usable for 15 to 20 seconds only when a card holder taps a finger on its sensor.
The market for biometric smart cards has been growing fast due to high demand for tighter security measures, with worldwide shipments of smart cards predicted to increase from 2.7 billion units in 2015 to 3.5 billion in 2020 according to market researcher ABI Research.
By M. H. Lee (mhlee@koreabizwire.com)
