The card is built on the IDEX Pay platform and allows the issuance and deployment of biometric cards globally. The combined technology from KONA I and IDEX Biometrics aims to offer more secure payments and increased access to identity control tools for customers worldwide.
IDEX Biometrics is designed as an optimised fingerprint biometrics platform that allows manufacturing partners to serve banks with biometric payment cards accepted at all EMVCo-compliant payment terminals across the globe. The platform aims to provide convenience, safety, and improved user experience for both customers and businesses. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, its biometric solution targets card-based applications for payments and digital authentication.
South Korea-based KONA I is a manufacturing partner approved by Mastercard for both PVC and Metal cards. This allows for accelerated commercialisation and industrialised production of biometric payment cards.
Four-digit PINs are often considered insecure as they are vulnerable to brute-force attacks and are easy to crack due to the limited possible combinations. However, the embedded biometric algorithms can exceed 99.99% authentication accuracy. Using a biometric payment card, the cardholder just needs to touch the built-in fingerprint sensor while presenting the card to the payment terminal. Once there is a successful biometric match, the payment is authorised without needing to enter a PIN.
When it comes to banks, they can experience a boost in sales as customers are prone to making more frequent transactions as payments become faster and more convenient.
These types of cards are also sustainable, as well as robust and flexible like traditional cards. Since the biometric system consumes very low power, no battery is required for the card to work.
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