FOOTHILL RANCH, Calif.--(BUSINESS WIRE)--Fujitsu Frontech North America Inc., a leader in innovative technology and front-end solutions, has entered into a strategic relationship with Keyo, an innovative leader in the rapid evolution of the payment experience for users and retailers using biometrics. As part of the strategic relationship, the parties have signed an agreement granting Keyo access to and distribution rights in Fujitsu’s patented PalmSecure technology. Using the cutting-edge biometric technology of PalmSecure, Keyo dramatically improves the value proposition for retailers by reducing transaction fees and dramatically reducing fraud, while simplifying and improving the human experience by eliminating physical cards, keys and tickets, and reducing time spent in checkout lines.
Fujitsu PalmSecure biometric palm vein sensors use a near-infrared light to capture a user’s palm vein pattern, generating a unique biometric template that is matched against the palm vein patterns of pre-registered users. Unlike other readers, the PalmSecure device does not come into contact with the skin, making it extremely hygienic, non-intrusive and unrestricted by external factors such as skin types and conditions.
“Keyo was extremely impressed that the registration for PalmSecure device users takes less than one minute and authentication takes less than one second,” said Randy Fox, vice president, currency handling and identity product solutions, Fujitsu Frontech North America Inc.
“There is no worse feeling as a consumer than when they realize they’ve forgotten their wallet or for a retailer when they add up the dollars spent each month for credit card processing fees and fraud,” said Jaxon Klein, Founder, Keyo. “Having a strong technology partner behind us has given Keyo a distinct market advantage by keeping the payment solution simple yet with the ability to be a platform for the combination of other Fujitsu biometric applications.”
“As a small business owner, Keyo and Fujitsu have enabled us to improve our customer loyalty, and reduce transaction fees and fraud, while improving convenience during the payment process,” said Rosie Quarsarano, owner, Cup & Spoon, in Chicago’s trendy Humboldt Park neighborhood. “Customers simply scan their palm and they are on their way.”
Fujitsu’s biometric solutions, PalmSecure sensors and PalmSecure for SSO (single sign-on), only recognize the palm vein pattern if blood is actively flowing within the individual’s veins, so forgery is virtually impossible. This advanced, vascular pattern recognition technology not only provides highly reliable authentication with low false accept and reject rates, but also allows for fast and easy enrollment. “Such technology is vital if Keyo is going to viewed as having the best-in-class biometric retail payment solution,” added Klein.
“We are delighted with the relationship with Keyo and its strong belief that Fujitsu PalmSecure devices and technology are the right choice to rapidly evolve the retail payment space. With PalmSecure technology, Keyo is addressing an industry and demographic market under pressure from on-line retailers and thus are becoming very tech savvy and willing adopters of the technology,” added Fox.
Fujitsu is the leading Japanese information and communication technology (ICT) company offering a full range of technology products, solutions and services. Approximately 155,000 Fujitsu people support customers in more than 100 countries. We use our experience and the power of ICT to shape the future of society with our customers. Fujitsu Limited (TSE: 6702) reported consolidated revenues of 4.5 trillion yen (US$40 billion) for the fiscal year ended March 31, 2017. For more information, please see http://www.fujitsu.com.
About Fujitsu Frontech North America Inc.
Fujitsu Frontech North America Inc. (FFNA) provides market-focused IT solutions that enable customers to achieve their business objectives through integrated offerings for self-checkout and currency management solutions, kiosks, mobile, RFID and biometric authentication technology. FFNA delivers industry-specific solutions for the manufacturing, retail, healthcare, government, education, financial services, and enterprise and communications sectors throughout North America. FFNA is headquartered with operations and product development at 27121 Towne Centre Drive, Foothill Ranch, CA 92610.
Keyo, Inc. is a Chicago, IL company that provides technology to make forgotten wallets a thing of the past. Keyo’s proprietary payment terminal allows shoppers to pay in stores with a quick and touchless scan of their palm. For businesses, this secure solution eliminates fraud at the point of sale, which dramatically reduces payment processing fees to a flat 1%. Since 2015, Keyo has consistently innovated in payment convenience and security and pushed to modernize the in-store checkout experience. Keyo is a recognized leader in payment innovation and consumer data privacy.
Copyright 2017 Fujitsu Frontech North America Inc. All rights reserved. Fujitsu, the Fujitsu logo and PalmSecure are trademarks or registered trademarks of Fujitsu Limited in the United States and other countries. All other trademarks are the property of their respective owners. Statements herein are based on normal operating conditions and are not intended to create any implied warranty of merchantability or fitness for a particular purpose. Fujitsu Frontech North America Inc. reserves the right to modify at any time without notice these statements, their services, products, and their warranty and performance specifications.