Update | Pay by selfie: Ant Financial buys EyeVerify to add eye print authentication to Alipay
Alibaba’s Ant Financial affiliate agreed to pay more than US$100 million to acquire US biometric security technology company
Ant Financial Services, the Alibaba Group affiliate, has bought a US biometric security company, bringing it a step closer toward making advanced eye print authentication possible on its Alipay electronic payment system.
Ant Financial agreed to pay more than US$100 million for ownership of EyeVerify, according to a source with knowledge of the transaction.
The deal marks Ant Financial’s first investment in the US five months after it closed a record US$4.5 billion round of private equity financing, which is the single largest private placement by an internet company. Ant Financial is now valued at about US$60 billion.
“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,” Jason Lu, the vice-president of fraud risk management at Ant Financial, said on Tuesday in a statement that did not provide financial details.
EyeVerify will operate as a wholly owned subsidiary of Ant Financial and continue to be based in Kansas City, Missouri.