IDEX Biometrics Partners with Leading Global Technology Provider to Drive Scaling of Biometric Payment Cards
07 September 2022 - 4:00PM
IDEX Biometrics Partners with Leading Global Technology Provider to
Drive Scaling of Biometric Payment Cards
Oslo, Norway - 07 September 2022
- IDEX Biometrics ASA is entering into an agreement
with one of Europe’s largest semiconductor companies, to enable a
complete solution for high performance biometric smart cards
leveraging the strengths of both companies.
The joint solution combines the IDEX TrustedBio sensor
solution and full biometric software stack integrated with the new
partner’s industry leading secure element, card operating system
and payment applets and which will be fully certified for use on
all global payment networks. This highly advanced solution
eliminates the need for a separate microcontroller ASIC and
discrete power management circuits required by solutions currently
in the market, thereby reducing costs and manufacturing
complexity.
The agreement also includes a framework for a joint development
plan and commercial engagement. Engineering samples to card
manufacturers will be available in the first quarter of 2023 and
biometric smart cards developed under the agreement are targeted
for delivery to issuers later in the year.
Vince Graziani, CEO of IDEX Biometrics, stated, “This is an
important milestone for IDEX as we can now offer joint solutions
with two of the largest semiconductor suppliers to the payment card
industry. We will provide card makers, issuers and banks a high
performance, low cost, fully certified biometric card solution,
further strengthening the ecosystem to meet increasing demand for
secure and seamless payment experiences.“
For further information contact:Marianne Bøe,
Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com Tel: + 47 918
00186
Brett L Perry, U.S. Investor Relations E-mail:
bperry@sheltongroup.com Tel: + 1 214 272 0070
About IDEX BiometricsIDEX Biometrics ASA (OSE:
IDEX and Nasdaq: IDBA) is a leading provider of fingerprint
identification technologies offering simple, secure, and personal
authentication for all. We help people make payments, prove
their identity, gain access to information or unlock devices with
the touch of a finger. We invent, engineer, and commercialize these
secure, yet incredibly user-friendly solutions. Our total
addressable market represents a fast growing multi-billion-unit
opportunity.For more information,
visit www.idexbiometrics.com
TRADEMARK STATEMENTIDEX, TrustedBio, IDEX
Biometrics and the IDEX logo are trademarks owned by IDEX
Biometrics ASA. All other brands or product names are the property
of their respective holders.
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