- Product authentication company YPB has signed its first client for its Motif Micro tech
- Chinese security labels provider PanPass has made the purchase
- Motif Micro is the company’s smartphone authentication product which is embedded into the brand logo
- YPB’s share price has increased by 33.33 per cent today, currently sitting at $0.0080 apiece
Product authentication company YPB has signed its first client for its Motif Micro tech.
Motif Micro is the company’s smartphone authentication product. The multi-patented technology is invisible to the human eye and is embedded into the brand logo to distinguish against counterfeit items.
One of China’s leading security label suppliers, PanPass, is making the purchase to protect its own QR codes.
Annually PanPass prints 15 billion security documents including 3 billion product security labels which predominately feature QR codes.
According to YPB, fake QR codes are on the rise in China as they are easily copied or replaced. Consequences of this range from fake products, identity theft, bank account fraud and malware intrusion.
The company will supply Motif Micro for six months initially. Upon completion, the supply agreement has the opportunity to be extended for an additional two years .
YPB’s Executive Chairman John Houston said selling the Motif Micro expands the company’s business model, adding business-to-consumer sales opportunities to the plan.
“I can’t over-emphasise how much our smartphone authentication breakthrough can transform YPB,” John said.
YPB additionally offers a range of anti-counterfeit options, including for government documents, forensics and sellable goods.
YPB’s share price has increased 33.33 per cent today, currently sitting at $0.0080 apiece, as of AEST 1:32 pm.