Touché, Mashreq Bank of the UAE partner for biometric technology

Wednesday 7 November 2018 00:37 CET | News

Touché has partnered with Mashreq Bank of the United Arab Emirates to offer its fingerprint biometric payment technology to the bank’s merchant clients.

Singapore-based startup Touché’s software associates fingerprints with credit cards for point-of-sale transactions, as well as it provides loyalty program services leveraging deep analytics. Moreover, merchants pay a monthly fee over a two-year contract, rather than a licensing fee.

The company has a list of potential clients in the Middle East, as it already made a deal with the Dubai-based SEED Group, and it has already agreed on a pilot project with an international hotel chain. Touché plans to deliver its solution in Q1 2019.

Besides the new deals, Touché is planning to raise USD 10 million in a structured offering before the end of Q1 2019. The reason behind this is to grow its team, expand its market reach, and support research and development.

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Keywords: Touché, Mashreq Bank of the UAE, biometrics, fingerprint, Singapore, POS transactions, loyalty program
Countries: World