Monday, 16 September 2019 15:17

YPB Group secures smartphone authentication solution deal with China's PanPass

By
YPB Group secures smartphone authentication solution deal with China's PanPass Image Stuart Miles, FreeDigitalPhotos.net

Product authentication and consumer engagement solutions provider YPB Group has signed an agreement to sell its Motif Micro 1 (MM1) smartphone authentication technology to China security label supplier PanPass.

The ASX-listed group (ASX:YPB) says PanPass will be the first commercial client for its “breakthrough” MM1 authentical solution, with the agreement marking the delivery and commercialisation of the technology on time in the second half of 2019, as previously foreshadowed.

According to YPB Motif Micro 1 represents a genuine technical and commercial breakthrough in creating a high security, smartphone readable, product authentication solution for mass consumer goods markets.

YPB says PanPass prints approximately 15 billion security documents annually which includes in the order of 3 billion product security labels per annum predominantly with “QR” codes to its customers in China, and initially intends to use YPB’s solution to protect its own product security QR codes from counterfeit.

According to YPB, QR codes are omnipresent in China but fake QR codes are a growing, and therefore, major problem.

YPB says QR codes are easily copied, spoofed and substituted with consequences from fake product substitution to identity theft, bank account fraud and malware intrusion.

PanPass was established in 1996 and has six service centres and 48 branches in China.

YPB Executive Chairman John Houston said: “I can’t over-emphasise how much our smartphone authentication breakthrough can transform YPB. It greatly expands our addressable market by shifting from our historical B2B sales to a B2C consumer marketing sales.

“YPB’s technology will provide brands with a direct, personal, low-cost channel to a willingly engaged consumer which can be extremely valuable to brands and the discussions that we, our channel partners and brands are having reflect that.

“Increasingly, we will be selling engagement powered by authentication with much higher probability of sales success compared with our earlier anti-counterfeit offer.”

Houston said having a product security label provider of “PanPass’s stature adopt our solution is testament to its quality and value – it is a true breakthrough. We look forward to working with the PanPass team in an immediate rollout.”

CHIEF DATA & ANALYTICS OFFICER BRISBANE 2020

26-27 February 2020 | Hilton Brisbane

Connecting the region’s leading data analytics professionals to drive and inspire your future strategy

Leading the data analytics division has never been easy, but now the challenge is on to remain ahead of the competition and reap the massive rewards as a strategic executive.

Do you want to leverage data governance as an enabler?Are you working at driving AI/ML implementation?

Want to stay abreast of data privacy and AI ethics requirements? Are you working hard to push predictive analytics to the limits?

With so much to keep on top of in such a rapidly changing technology space, collaboration is key to success. You don't need to struggle alone, network and share your struggles as well as your tips for success at CDAO Brisbane.

Discover how your peers have tackled the very same issues you face daily. Network with over 140 of your peers and hear from the leading professionals in your industry. Leverage this community of data and analytics enthusiasts to advance your strategy to the next level.

Download the Agenda to find out more

DOWNLOAD NOW!

Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments