Information Technology
IDEX Biometrics Receives IDEX Pay Order For Biometric Metal Payment Cards
By GlobeNewswire
Oslo, Norway – 22 November 2023 – IDEX Biometrics has received an initial order for IDEX Pay from a smart card manufacturing partner in Asia who will deploy biometric metal payment cards for their bank clients world-wide. Cards produced from this order are expected to reach customers during the first quarter of 2024.
With an annual production capacity of more than 30 million cards, this card manufacturer specialises in serving banks globally with a suite of full metal cards, and is certified by Visa, Mastercard and other major payment schemes.
With a total market size of 40 million cards in 20231, the metal card segment is expanding amongst premium customers across Europe (44% projected YoY growth) Latin America (61%) and the dynamic economies of Asia outpacing with 103%. 70% of millennials declare preferring metal cards2. Biometric metal cards are expected to revolutionize premium card programs, with strong demand from banks in APAC, Eastern Europe and South America.
IDEX Biometrics differentiated and optimized reference design, IDEX Pay, is particularly well suited for metal cards. Additionally, IDEX Biometrics enables manufacturing partners with product and implementation guidelines.
"Bringing true innovation to the affluent customers banking segment will accelerate biometric metal card market penetration,” said Catharina Eklof, Chief Commercial Officer at IDEX Biometrics. “Premium banking customers seek seamless payments solution when travelling and in their daily lives. Smoother payments contribute to transaction and retention increase, critical to banks in today’s competitive payment landscape."
1 ABI Research AN-5913 ; 2 G+D Metal Cards Report 2022; expected CAGR 2021-2025
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
First published on Wed, Nov 22, 2023
Liked what you read? That’s only the tip of the tech iceberg!
Explore our vast collection of tech articles including introductory guides, product reviews, trends and more, stay up to date with the latest news, relish thought-provoking interviews and the hottest AI blogs, and tickle your funny bone with hilarious tech memes!
Plus, get access to branded insights from industry-leading global brands through informative white papers, engaging case studies, in-depth reports, enlightening videos and exciting events and webinars.
Dive into TechDogs' treasure trove today and Know Your World of technology like never before!
Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. While we aim to provide valuable and helpful information, some content on TechDogs' site may not have been thoroughly reviewed for every detail or aspect. We encourage users to verify any information independently where necessary.
Trending GlobeNewswire
Memehain Announces Token Airdrop With Plans To Launch
By GlobeNewswire
Muhdo Health And MGRC Announce An Exclusive Distribution Partnership In Turkey
By GlobeNewswire
Openzk Launches, Leading The Way For A New Era In The Layer 2 Ecosystem
By GlobeNewswire
BCH Miner Launches Accessible Cloud Mining Solution For Crypto Enthusiasts
By GlobeNewswire
Bitget Wallet First To Launch Solana Limit Orders, Automating Memecoin Trading
By GlobeNewswire
Join Our Newsletter
Get weekly news, engaging articles, and career tips-all free!
By subscribing to our newsletter, you're cool with our terms and conditions and agree to our Privacy Policy.
Join The Discussion