April 25, 2024

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[THE INVESTOR] Korean biometric security system developer Raonsecure said on Aug. 30 it has signed a deal to supply its Fast Identity Online, more widely known as FIDO, solution to Infinitium, Malaysia’s leading online payment firm, from next year.

“We are the first Korean company to export our own FIDO technology,” said Raonsecure CEO Lee Soon-hyoung in a news conference.

Raonsecure’s FIDO technology, called TouchEn OnePass, will be running on Infinitum’s authentication platform that allows a user’s fingerprint, voice or face to be used for identity authentication in mobile payments. 

The two firms are pinning high hopes on Southeast Asia, one of the fast-growing markets for mobile payment. The Malaysian firm, established 1997, has more than 200 million users in the region, including Singapore, Indonesia and India.

FIDO authentication is the most widely used biometric authentication standard. Tech giants such as Samsung Electronics and PayPal are members of the industry-wide alliance.

By Song Seung-hyun (ssh@heraldcorp.com)