Bartronics ties up with LG Electronics

MUMBAI: Bartronics India today said it has entered into an agreement with LG Electronics' US arm for providing technology solutions to the latter. The agreement allows Bartronics to deploy its 'Iris recognition technology' and products in LG's US arm, Bartronics said in a filing to the Bombay Stock Exchange. Under the agreement, Bartronics would implement the technology in Europe, Africa, Middle East and South Africa, the filing added.

Further, Bartronics America Inc, a wholly-owned subsidiary of Bartronics India Ltd has bagged a project, along with California-based Comic-Con International, for deployment of its patented RFID wristband product. In March, the US Patents Office had granted a patent to Bartronics America Inc for designing and manufacturing a non-reusable tamper-resistant identification device, increasingly used in cash-less transaction systems.

The technology is used in the form of wristband or bracelet, which is seeing increasing usage as a convenient form of enabling cash-less transaction systems. With this technology, cash-less transaction are processed automatically with just a swipe of the wrist. Bartronics solutions on such wristbands function by linking credit cards, debit cards, or stored value to the wristbands. Shares of Bartronics India closed at Rs 217.25, down 3.23 per cent on the BSE.