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Korean FinTech firm Kona I Co. Ltd. said Wednesday that it has rolled out a biometric smart card that features an embedded fingerprint sensor.
The new model can identify the user's fingerprint and can be used to allow access to buildings or for other ID card uses in the security sector, the company said.
For instance, a biometric credit card can become active for only 15 to 20 seconds when a card holder taps a finger on a sensor, company officials said.
"The technology will replace password or authentication certificates in all kinds of areas that need to confirm identification, not only in the security industry but also in the financial and IoT sectors," said CEO Cho Jung-il.
The technology offers more security and convenience as the new model is equipped with not only a sensor but also a battery and display, the company said, adding that the volume is the same as existing smart cards.
Biometric smart cards have become a fast-growing market due to higher demand for tighter security measures, the company said.
The worldwide shipment of smart cards is forecast to increase from 2.7 billion units in 2015 to 3.5 billion in 2020, according to market researcher ABI Research. (Yonhap)
