Precise Match-on-Card™ Selected For Nigerian National ID Card

Precise Match-on-Card™ Selected For Nigerian National ID Card

Precise Biometrics has been chosen to deliver its Match-on-Card
technology for the Nigerian national ID card initially comprising 50
million citizens. The card will function both as national ID and as a
bank card. The project was won through Precise Biometrics' Nigerian
partner Interswitch. In expected value, this national ID project is the
largest so far won by Precise Biometrics.

Precise Biometrics' Nigerian partner Interswitch is a member of the One
SecureCard consortium, which won 50 percent of the total ID card
project. Nigeria will start to issue ID cards to its citizens this year.
The card is planned to be issued to 100 million citizens. This means
that the project for Precise Biometrics comprises 50-60 million cards to
be issued during a six year period. The ID card will also operate as a
bank card under the Interswitch-owned brand Verve.

Nigeria has chosen to add Match-on-Card to its ID card due to issues
with fraud and identity theft. Match-on-Card enables storage and
matching of a fingerprint directly on the card itself, a secure
biometric verification that greatly reduces fraud. Many Nigerian banks
are looking into Match-on-Card, expecting to include the technology in
other projects.

“Precise Biometrics has been a key strategic partner in winning this
project” said Mitchel Elegbe, CEO of Interswitch. “Their Match-on-Card
technology adds extra value to Interswitch's offer in terms of
ease-of-use and security”

Nigerian citizens will use the card for public services including health
care, pensions and other social services. In addition, a large majority
of Nigerians remain unbanked and therefore may not always receive
payments they are entitled to. Because the ID card will also operate as
a bank card, many Nigerian citizens will have access to a financial
system from which they might otherwise be excluded.

“The selection of Precise Match-on-Card™ for Nigeria's national ID card
is continuing proof of the strength of Precise Biometrics' technology,”
said Precise Biometrics CEO Thomas Marschall. “We expect substantial
income from this project in the coming years, including fingerprint
readers once more cards have been deployed. We have agreed with our
partner not to disclose specific values, but the income from the project
will naturally be reflected in our regular financial reporting.” He
added, “We have a track record of Match-on-Card solutions that are
secure, accurate, and reliable—all extremely important for a successful
national ID program.”

As a separate and additional opportunity in Nigeria, Interswitch will
continue to pursue more Local State ID card projects in Nigeria similar
to their first win, Cross River State, which also includes Precise
Match-on-Card™.

Precise Biometrics is the leading global supplier of Match-on-Card. The
company has delivered Match-on-Card to five additional national ID
cards, including Portugal, Thailand and Venezuela.

Point of contact
Thomas Marschall, President and CEO, Precise Biometrics AB
Tel. 46 46 31 11 10 or 46 734 35 11 10
E-mail
thomas.marschall@precisebiometrics.com (thomas.marschall@precisebiometri
cs.com)
Patrik Norberg, CFO, Precise Biometrics AB
Tel. 46 46 31 11 47 or 46 734 35 11 47
E-mail
patrik.norberg@precisebiometrics.com (patrik.norberg@precisebiometrics.c
om)