NEXT Biometrics is continuing to build its customer base in India. The company announced that it has signed a Letter of Intent (LOI) with the Pagaria Group, which plans to integrate NEXT’s One Touch ID Finger Print Module into Bluetooth readers and Point of Sale (POS) payment terminals.
Those Pagaria products will be geared toward the Indian fintech market, and are specifically being built for one of the fastest-growing payment banks in the country. According to NEXT, the LOI concerns approximately 13,000 sensors for POS terminals and around 10,000 sensors for Bluetooth readers, most of which are expected to ship before the end of 2021. The LOI is non-binding, though Pagaria has already placed an initial order for 4,650 sensors.
The news builds on NEXT’s longstanding support for the Digital India Program. The company has formed partnerships with multiple Point of Sale specialists that are active in the Indian market, including TROIKA, Telpo, and MobiOcean.
“Pagaria’s capabilities in the fintech market together with NEXT’s unique fingerprint sensor technology brings the right solutions and products to capture the on-going significant growth of mobile financial solutions in India,” said Pagaria CEO Ankush Pagaria.
“We continue to keep our ears close to the market while digitalisation in the Payment & Fintech space is developing around the world,” added NEXT CEO Peter Heuman.
NEXT received an order for One Touch ID Finger Print Modules from a new Indian client back in April. More recently, the company solidified its partnership with China’s Newland Payment Technology. Newland is the world’s second-largest provider of POS technology, and placed two large commercial orders with NEXT over the course of 2020.
NEXT’s fingerprint sensors will also be used to protect cryptocurrency wallets from the Belgian developer NGRAVE. That particular deal is being realized through a NEXT collaboration with NGRAVE and Page Electronica.
January 26, 2021 – by Eric Weiss