IDEX Biometrics Partners with Leading Global Technology Provider to Drive Scaling of Biometric Payment Cards
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.
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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.“
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IDEX Biometrics ASA s 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.
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