Fujitsu Aims for FinTech Applications After PalmSecure Sales Hit Milestone

“Looking forward, Fujitsu says it will continue to refine the accuracy of PalmSecure, and to expand its use into new applications…”

Fujitsu is celebrating a new milestone for its palm vein scanning solution: The company has announced that global sales of PalmSecure have passed the one million mark.Fujitsu Aims for FinTech Applications After PalmSecure Sales Hit Milestone

First launched in 2004, Fujitsu’s flagship biometric system has been used in a range of applications, from physical access control to Bitcoin kiosk authentication. The technology has been refined over the years, of course, and Fujitsu says PalmSecure is now being used by about 73 million people across 60 countries.

In announcing its new sales milestone, Fujitsu emphasized the sophistication of its palm vein scanning technology, which analyzes the absorption of infrared light in hemoglobin in a given user’s palm veins. “Unlike other biometric authentication methods that use information on the outside of the body, this technology makes use of biometric data from inside the body, offering protection from falsification or spoofing,” the company asserted, adding that PalmSecure offers a false rejection rate of less than 0.01 percent and a false acceptance rate of 0.00001 percent.

Looking forward, Fujitsu says it will continue to refine the accuracy of PalmSecure, and to expand its use into new applications, “including in areas with increasingly high demand, like cashless and cardless payments.” The company could face some tough competition in that area in particular as fingerprint biometrics increasingly come into play in financial services, not only in emerging biometric ATMs but in the forthcoming biometric payment cards from Mastercard and Visa; but enthusiasm over biometric authentication in general is on the rise, and with PalmSecure now having passed the one million mark in sales, Fujitsu is on tilt.

May 31, 2018 – by Alex Perala