Biokey International Inc (BKYI)

[SeanBoy]

Alipay, the online payment arm of China's e-commerce giant Alibaba, announced on Monday that it has joined forces with telecommunications equipment giant Huawei to offer a service that allows mobile phone users to make payments using their fingerprints as verification.

That exactly what I'm talking about.

The IBM servers in China are nice, but they only mean something to BKYI if they are actually used for mobile payments with BKYI. IBM also uses DigitalPersona for their ESSO and many of those servers may have nothing to do with biometrics.

I'll give you an example. The company I work for has a little over 100 employees (there are many companies like us). We operate in about 1/2 dozen cities and use 5 or 6 servers. Although the info is extremely valuable to us, it's not worth anything to some one else. Our biggest fear is loss of data.

We use complicated passwords which are a pain, but if someone suggested to management that they invest $10k to switch to biometrics, they'd laugh.

Now if biometrics becomes the next big thing because of smart phones, that same request would be viewed in a different light. Just like when computers first came on the scene, who thought speakers were needed, but now, no one thinks twice about the added cost.

The fact that ApplePay requires the user to send their fingerprint template to the cloud is still the most significant development relative to the success of BKYI.