FinGo, a UK fintech behind the world’s first biometric identity authentication and payments platform, has entered the multi-billion gaming sector through a strategic partnership with NYCE International.
NYCE International, a subsidiary of Hong Kong investment company The Global Chain, will act as FinGo’s global representative in the gaming market. The partnership will see FinGo and NYCE introduce a new generation of biometric age verification and cashless payment products for casinos, bars, and other entertainment venues, as well as the online gaming market.
FinGo’s technology works by taking a simple scan of a person’s unique vein pattern through an infrared device. This scan is connected to a person’s registered FinGo account, which can be linked to their verified ID or a digital wallet to enable payments. Registered users can then scan their vein to prove identity, age or make payments in any venue offering the FinGo system.
NYCE Managing Partner, Harmen Brenninkmeijer, commented: “Operators in gaming markets need to future-proof their business, and biometric technology can do just this. There is great responsibility to safeguard consumers, particularly young people, and being able to objectively and easily verify age and prove ID has huge potential”.
“Given recent changes in casino regulations in various markets across the world, and the explicit need for better age controls or spending limits, FinGo’s identity and payment expertise will enable a better gaming experience for operators and players, supporting player convenience and compliance. This partnership allows us to add considerable value to the gaming sector at this time.”
Simon Binns, FinGo’s Chief Commercial Officer, added: “We are thrilled to partner with NYCE, enabling our entry into the growing gaming market. The team has a track record for innovation, coupled with deep knowledge and experience of the gaming industry. We are confident our biometric platform will help to solve age verification issues within in-person gaming, and open up new opportunities for this diverse, valuable and highly regulated industry. “
FinGo added age verification and digital identity services to its product portfolio in 2020, alongside its existing biometric-enabled payment platform. It was approved by Manchester City Council for use in checking people’s age in licensed establishments, without the use of ID.
In September 2021 it agreed a strategic partnership with Mastercard, significantly expanding the company’s global reach by opening up access to a network of acquirers and millions of merchants worldwide. The partnership gives FinGo access to the white-labelled Mastercard Payment Gateway Services (MGPS), enabling it to grow its footprint for payment services across Europe, the Middle East, North Africa, Asia Pacific, Australia and North America.
