Apple inks deal with Microlatch for fingerprint security tech

The details of the agreement remain unknown, but it seems clear that Apple is working on these issues for mobile payment and security.

“There have been acquisitions that suggest that people are positioning themselves around these biosecurity products securing mobile phones in a far more satisfactory way for people,” David Murray, lead investor of the five-year-old company and former head of the Commonwealth Bank, told The Australian.

The site writes that Microlatch owns patents that meet banking standards that allow users to use fingerprints and biometrics without a need for it to be transmitted or stored.

In July, Apple purchased fingerprint sensor maker AuthenTec for $356 million, sparking speculation that the iPhone 5 would feature the company’s technology.