China-based fabless semiconductor company Spreadtrum Communications has entered into a strategic cooperation with Internet Finance Authentication Alliance (IFAA) to jointly promote the framework and development of an iris-based payment authentication system in China, the company said.
IFAA was launched by a group of firms and institutions including Ant Financial, Alibaba, Samsung, Huawei, ZTE and CAICT (China Academy of Information and Communications Technology). The alliance is influential in the domain of authentication in China, with their local standard having already been applied to over 90 million mobile phone devices and facial recognition standard having served over 60 million users.
Spreadtrum Communications develops mobile chipset platforms for smartphones, feature phones and other consumer electronics products, supporting 2G, 3G and 4G wireless communications standards. It is a privately held company headquartered in Shanghai and an affiliate of Tsinghua Unigroup, Ltd.
IFAA was founded on June 19, 2015 to provide secure and easy-to-use Internet identity authentication service that can be accessed everywhere in Internet.