Together Ant Financial and EyeVerify will leverage Eyeprint IDTM technology to accelerate the adoption of secure mobile payments worldwide
HANGZHOU, CHINA and KANSAS CITY, Mo., USA – September 13, 2016 – Ant Financial Services Group, the world’s leading online and mobile financial services provider and operator of Alipay, today announced the acquisition of EyeVerify, Inc., the creator of Eyeprint IDTM, a patented, secure mobile eye verification technology. The acquisition furthers Ant Financial’s mission to increase user trust and safety in financial transactions worldwide and allows EyeVerify to draw on greater resources to advance its technology.
“The acquisition of EyeVerify is a critical part of our effort to make bold, yet thoughtful moves to continually enhance user trust, safety, and experience,” said Jason Lu, vice president of fraud risk management at Ant Financial. “It is an important extension of our efforts to accelerate the global adoption of secure mobile payments and allows us to improve our overall risk management.”
Earlier this year, Ant Financial and EyeVerify entered into a licensing agreement in which Eyeprint ID was integrated into Ant Financial’s payment authentication platform. Today’s acquisition will allow the technology to be integrated into even more Ant Financial products and secure hundreds of millions of consumers’ online data and transactions.
EyeVerify will also continue to grow its global customer base, and aims to provide financial institutions worldwide with the identity and authentication technology they need to expand their services and meet the needs of increasingly mobile customers.
“Ant Financial’s vision to turn trust into wealth for small and micro enterprises as well as consumers worldwide resonates deeply with our own core mission,” said Toby Rush, founder and CEO of EyeVerify. “Our payment-grade biometric platform is already trusted by over three dozen banks and technology leaders, and we look forward to helping even more people across the financial spectrum access digital services with security and convenience.”
Eyeprint ID eliminates the need for traditional authentication methods like passwords by transforming an ordinary selfie into a “key” that protects consumers’ digital lives, including their mobile transactions. It is highly accurate, easy to use, and prevents spoof attacks with proprietary technology that can recognize the difference between a real person and an image or video.
An Eyeprint contains the visible veins and other unique micro features in and around the eye and are highly complex and unique to every individual. They can never be lost, stolen, or intercepted because the technology scrambles and encrypts the Eyeprint data locally – so it never leaves the device. EyeVerify currently has 17 U.S. patents issued and 15 more patents pending to continue to expand on the technology.
EyeVerify will operate as a wholly-owned subsidiary of Ant Financial and continue to be based in Kansas City.
About Ant Financial Services Group
Ant Financial Services Group is focused on serving small and micro enterprises, as well as consumers. With the vision “to turn trust into wealth,” Ant Financial is dedicated to building an open ecosystem of Internet thinking and technologies while working with other financial institutions to support the future financial needs of society. Businesses operated by Ant Financial Services Group include Alipay, Ant Fortune, Zhima Credit, MYbank and Ant Financial Cloud.
For more information on Ant Financial, please visit our website at www.antgroup.com; or follow us on Twitter @AntFinancial.
Unlock every opportunity with Eyeprint ID – created by EyeVerify Inc. One look opens mobile devices, logs you into apps and secures your mobile payments.
Eyeprint ID transforms an ordinary selfie into a key that protects your digital life. This patented, software-only biometric solution is 99.99% accurate and extremely scalable. In less than one second, with no add-on hardware, employees and customers will experience password-free mobility. Several large Android device manufacturers and more than a dozen financial institutions have deployed Eyeprint ID, delivering convenient, secure, private authentication to millions of consumers today. Visit eyeverify.com today to learn more.
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