Throughout this partnership, the companies will focus on deploying biometric payment cards across both recycled PVC and metal cards, for their bank customers across the world. An initial order for IDEX Pay had been shipped to the South Korea-based KONA I.
As biometric metal cards are in demand at the moment by both challenger and traditional banks, the companies will focus on designing the service in order to meet the needs, preferences, and demands of customers and clients, while also remaining compliant with the requirements and laws of the industry. In addition, banks will have the opportunity to improve brand loyalty, attract new users, and optimise their overall experience.
Norway-based company IDEX Biometrics is a provider of fingerprint identification technologies, delivering secure and user-friendly authentication services for payments, access control, identity verification, and device unlocking processes. The firm announced multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world.
In October 2023, the card manufacturer gained Mastecard’s approval for IDEX Pay biometric smart cards, and the fast-tracking production with efficient certification processes. In addition, IDEX Biometrics received a Letter of Approval (LoA) from Mastercard for a biometric smart card, which was set to enable the company to rapidly move to industrialised tools of biometric payment cards. In anticipation of the certification, the company placed a production order, as previously announced in the official statement.
According to the press release published at the time, the firm highlighted the swift approval after their certification and showcased the efficiency of the biometric card production. Moreover, the firm was set to enable manufacturers to provide global biometric smart card services for payments, transactions, as well as digital authentication to various sectors.
Earlier in September 2023, IDEX Biometrics partnered with KL HI-Tech in order to launch biometric payment cards for customers and companies in India. The deployment of KL HI-Tech biometric cards to bank clients was anticipated to commence in the first quarter of 2024. The company had an annual production capacity of 36 million dual-interface payment cards and held certifications across multiple ISO classes.
IDEX Biometrics was set to deliver its technology and suite of services, capabilities, and market strategy in order to drive forces that were set to benefit users in India and Asia.
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