YPB to Secure Southeast Asian ePassports
Sydney, April 11, 2016 AEST (ABN Newswire) - YPB Group Limited (
ASX:YPB) has been contracted to provide its proprietary VariSec technology to protect a large Southeast Asian country's ePassports. The contract follows those announced in 2015 for the proprietary VariSec technology with a major Western nation and a large African economy, accounting for a total of approximately 16.5 million ePassports on an annual basis.
Highlights:
- YPB's VariSec technology to be applied to a further two million ePassports
- First Asian economy to embrace VariSec solution
- Further success in secure Government documents
The new contract comes shortly after contract wins in Mexico and is further evidence of YPB's penetration into the world of secure Government documents. YPB now provides its VariSec technology to three countries whose collective population exceeds 440 million.
The VariSec technology is a trade secret owned and commercialised by YPB, which can be customised or individualised to suit different government's uses and specifications.
The market for securing passports is large and by its nature recurring, with passports worldwide having a lifecycle of approximately 10 years. The International Civil Aviation Organisation's (ICAO) Technical Advisory Group on machine-readable travel documents (MRTD) published an information paper in January 2013 on ePassports worldwide disclosing that:
- 101 states and economies issue ePassports;
- An estimated 489,522,100 ePassports have been issued worldwide;
- An estimated 483,929,100 ePassports are in circulation.
YPB CEO Jens Michel commented: "We are continuing to build momentum in government security documents. This is another excellent opportunity for YPB to further increase our exposure to government agencies for our entire suite of anti-counterfeiting solutions. We are continuing to develop products that will protect governments and brands."
YPB provides a comprehensive suite of solutions to PROTECT products, DETECT counterfeits and CONNECT consumers with the brand owners.
To view the release, please visit:
http://abnnewswire.net/lnk/9W5HQTO4
About YPB Group Ltd
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