Transaction Security, Inc. (TSI) has been granted an important patent for cryptographic biometric technology it has been developing for several years. Its Crypto-Sign technology revolves around the integration of biometric identification sensors into mobile devices, and storing that data in an encrypted form locally, on the device itself. Company spokespeople say that their aim is to provide low-cost, user-friendly biometric protection, and that in beta testing their technology has received positive appraisal from the likes of Microsoft, Dell, HP, AT&T, and the FAA.
There certainly seems to be a sense of accomplishment and validation among TSI executives, whose big bet on this technology seems to now be paying off.
“There has been much publicity recently from Samsung, PayPal, Apple and others with regard to the use of mobile device biometrics in payment systems and for general transaction security,” said Rob Beatson, founder of the company and co-author of this patent.
“TSI was preparing for this several years ago and the patent is the result of the TSI team’s vision.” Mark Kelty, another patent co-author, added, “I have worked with Rod for a number of years now on developing this process and we are excited about the potential it offers for the expanded role of mobile devices and for the reduction in fraud.”
As the company now looks around for partners to help bring this technology into the mainstream marketplace, it also eagerly awaits approval of another patent, one that will facilitate e-signature authentication for POS transactions, which could be used in conjunction with Crypto-Sign technology to produce what Rod Beatson described as “an authentic electronic signature with an ink-on-paper look, directly from the device.”
(Source: Mobile ID World)