According to the press release, IDEX and Ubivelox have signed a Memorandum of Understanding (MOU) and Ubivelox have committed to build and market a complete biometric payment card solution to service Ubivelox’s extensive 140+ customer base, particularly Mastercard and Visa issuers, across APAC. The design will be based upon a Secure Element (SE) from an international provider with integrated power management. Shipping to card integrators is planned for the first quarter of 2021.

IDEX Biometrics is a provider of fingerprint identification technologies offering secure and personal touch-free authentication for all. They help consumers make payments, prove their identity, gain access to information, unlock devices, or gain admittance to buildings. 

Ubivelox is a South Korea-based smart card and mobile convergence business, focused on banking, telecommunication, transportation, and national ID cards. Providing smart card system solutions, secure elements, mobile payment solutions, mobile wallet, e-coupons and service platforms, they deliver 80 million banking cards to customers per year and an additional 100 million cards through licensing their system on chip (Soc).