The agreement means that TBSP have obtained a license to all CardLab technologies and in short time will start to introduce more secure cards containing CardLab anti-fraud and identity protection technologies such as RFID skimming protection and fingerprint sensor on the card, to allow only the rightful owner to use the card.

The agreement cements CardLab position as a leading technology supplier to the powered card industry and one of the frontrunners in fighting card fraud, identity theft and cyber-criminal activities with its advanced technologies for card solutions. The agreement follows a decision earlier to use Fingerprint Cards new T-shape fingerprint sensor and have a close collaboration with Fingerprints to help Fingerprint customers with card design and Fingerprint sensor integration.

“I’m very happy we have been able to make this agreement securing a strong partner to bring superior card solutions to the market to fight the increasing fraud and identity theft problems where identity theft alone according to latest data from CSIS and McAfee annually amounts to USD 600 billion, equal to 0,8% of worldwide BNP. We have experienced TBSP as a very progressive company interested in sending more secure card products to the market that can eliminate these problems and CardLab working with TBSP can help cardholders avoid criminal activities in the future” says Frank Sandeløv, CEO of CardLab.

The agreement with TBSP also secures CardLab ability to deliver certified card products carrying VISA, MasterCard or other major brand as TBSP is a fully certified factory. The agreement further fuels CardLab growth plans, where CardLab right now is seeking an investment of USD 3,5 million for an approximate 10% ownership of Cardlab, to ramp up sales and production in order to accommodate the demand arising from the agreements made with Fingerprints and TBSP.

CardLab prefer an active investor with interest in participating in the day-to-day operations to participate in exploiting the customer opportunities and for the USD 3.5 million achieve approximately 10% ownership with the option to increase to approximately 30% ownership. CardLab holds a very strong pipeline and with the needed investment a very solid return can be created on such an investment.
For TBSP, it has been important to meet the new security demands and deliver more secure card products as Managing Director, Natapong Pinitpongskul states “To TBSP it is important to deliver the best and most secure card products to our customers and with the rising fraud levels we have been looking to implement better technology in our cards. Working with CardLab will bring us the needed technology to become a leading supplier in secure card solutions to TBSP and CardLab customers. By these technologies we shortly will introduce biometric card solutions and skimming protection as a standard offering in our cards”.