OSLO, Norway, May 16, 2019 /PRNewswire/ --NEXT Biometrics (Oslo Bors: NEXT), a global leader in fingerprint sensor technology, announces that it has entered into a supply agreement with Fujian Newland Payment Technology Co., Ltd. (Newland).
Newland is the market-leading Point-of-Sale (POS) terminal manufacturer in China and ranks number two in the global POS sector according to The Nilson Report. The agreement provides for the integration of different types of NEXT Biometrics' high-quality, large-area fingerprint sensors into a range of Newland`s POS terminals for sales on a global scale.
The parties have agreed not to disclose volume and revenue details of the supply agreement at this point in time. Volume supply of NEXT fingerprint sensors to Newland is scheduled to start in Q3-2019 and will take full effect in 2020.
"Teaming up with the global number two POS vendor is the perfect basis to further grow our Government ID business on a global level within the next few years," said Alain Faburel, NEXT Biometrics Chief Sales and Marketing Officer. "As announced at the beginning of 2019, we aim to grow our position in access control and Government ID as near-term revenue targets while taking all necessary steps for the mid-term smart card payment market hypergrowth to set in."
"With millions of terminals deployed globally, highest quality, reliability and mass production capability are decisive factors," said Mr. Shen, CTO of Newland. "We have evaluated several options and NEXT Biometrics' excellent sensor technology and performance have won us over."
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SOURCE NEXT Biometrics