Tech Bytes: Japanese ATM Maker Licenses Eye-Scan Technology

Sensar Inc., which makes biometric identification systems, has signed a $41.9 million development and distribution agreement with one of Japan's leading automated teller machine makers.

The deal, which runs through 2003, gives Oki Electric Industry Co. Ltd. exclusive rights to Sensar's Irisident eye-scanning system in Japan, and nonexclusive rights to the technology in 10 other Pacific Rim countries, including China.

Irisident verifies identities by measuring characteristics of the human iris, and is seen as an alternative to personal identification numbers at ATMs.

Oki reportedly plans to begin testing products incorporating Irisident in the third quarter of 1997.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER