FinGo, the London-based biometric payments pioneer, has gained access to Mastercard Payment Gateway Services (MPGS) thanks to a new partnership with the payments giant.
MPGS is a white label technology solution that Mastercard offers to its partners, giving them access to payment processing and anti-fraud technologies. For FinGo, gaining access to the service opens the door to potentially expanding its reach across a number of regions, including North America, Europe, the Middle East, North Africa, APAC, and Australia.
It’s a potentially important new development for FinGo and the ascent of its biometric payments platform, which is designed to let end users link their payment accounts to biometric data, enabling them to complete transactions through a finger vein scan – and with no need for a payment card or any other hardware token. Through the Mastercard partnership, FinGo is integrating the MPGS tokenization service into its platform in order to secure user data.
“Our partnership with MPGS will allow us to bring biometric payments to a much wider global audience and accelerate our expansion particularly within MENA, which is one of our key strategic regions,” explained FinGo Chief Commercial Officer Simon Binns. “With MPGS integrated, we are able to access hundreds of acquirers, and in turn, millions of merchants, to help them make payment transactions as simple and frictionless as possible.”
The Sthaler-owned company has been accruing attention in recent years with pilot-scale deployments of its naked payments system, which is powered by biometric technology from Hitachi. More recently, it has also expanded into new application areas for its technology, such as adapting it for use in a COVID-19 immunity credential. And according to a report from Finextra, Fingo is also in negotiations to have its technology used for vaccination credentials, and in national and regional identity programs.
The MPGS announcement comes after FinGo announced new appointments concerning the roles of Chief Operating Officer, Chief Technology Officer, and Head of Engineering in April of this year.
June 9, 2021 – by Alex Perala