Is Apple Ready to Commit to Biometrics?

Apple (NASDAQ:AAPL) has reportedly signed an agreement with Australian biometrics security firm Microlatch to use its fingerprint recognition technology in near-field communications applications. Microlatch’s lead investor, David Murray, told The Australian that his firm and Apple had signed a deal, though he did not offer any financial or technical details.

“There have been acquisitions that suggest that people are positioning themselves around these biosecurity products securing mobile phones in a far more satisfactory way for people,” Murray said, adding that Microlatch owned patents fingerprint biometrics that meet banking security standards.

Apple has been a huge winning stock pick for Wall St. Cheat Sheet Newsletter subscribers. Don’t waste another minute — click here and get more of our CHEAT SHEET stock picks now.

Apple purchased fingerprint sensor maker AuthenTec (NASDAQ:AUTH) in July for $356 million, leading to speculation that the iPhone maker was serious about including the new security technology in a digital payments application. It was even being rumored before the launch of the iPhone 5 last month that the new smartphone would be equipped with these features. While that did not happen, the Microlatch deal may be further proof that Apple could eventually add such a feature to its mobile devices. AutheTec’s purchase also sent alarm bells ringing among the firm’s existing customers, including Dell (NASDAQ:DELL), Lenovo, and Hewlett-Packard (NYSE:HPQ), who reportedly have been asked to find alternatives before next year.

According to Reuters, Apple recently made a regulatory filing that hinted that the company may be working on developing a two-dimensional fingerprint sensor, though it did not elaborate whether it would be used in an iOS device or a Mac computer.

Don’t Miss: Is This a Fight Apple is Destined to Lose?

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Premium Newsletters

Stock Investor Cheat Sheet

Stock Investor Cheat Sheet®

The ultimate Cheat Sheet for finding winning stock picks.
Learn More

Gold & Silver Newsletter

Gold & Silver

Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
Learn More

Commodities Premium Newsletter

Commodities Premium

There's always a bull market in some sector! Find the best opportunities in commodities.
Learn more

ETF Investing

ETF Investing

At last, a trading system that buys the right ETFs at the right time, time after time!
Learn more

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business