Ant Financial, the financial services affiliate of Alibaba Group Holding Ltd., has acquired EyeVerify Inc. to expand services using the U.S. startup’s biometric authentication technology for securing consumers’ online data and transactions.
Ant Financial is reportedly paying US$70 million for the Kansas City, Missouri-based company, which uses pictures of the human eyeball as a way to verify identity.
After the completion of the transaction, a first in the U.S. for Ant Financial, EyeVerify will become a wholly owned unit of the buyer.
"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," says Jason Lu, vice president of fraud risk management at Ant Financial, inContinue Reading the Entire Article Here >>
