Following this announcement, South Korea-based Biosmart will have the possibility to move to the industrialised production of biometric payment cards. In addition, the interest that comes from banks in the region underpins the overall commercial opportunity ahead of the company.
In addition, the firm will also continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
IDEX Biometrics was developed as a differentiated and optimised fingerprint biometrics platform that enables manufacturing partners to serve banks with biometric payment cards which are accepted on all EMVCo-compliant payment terminals across the globe. The solutions aim to bring convenience, safety, and peace of mind for businesses and customers alike.
Biosmart represents a certified card manufacturing and personalisation vendor of multiple global payment brands, including Visa, Mastercard, AMEX, Union Pay, JCB, and Diner’s.
The Letter of Approval is set to make payments easier and more secure for clients with biometric payment cards, based on the technology from IDEX Biometrics. At the same time, it will also focus on providing secure and frictionless transactions, as they contribute to payment and retention increase, which represent an important factor for banks in the current competitive payment landscape. Furthermore, Biosmart will also continue to improve the overall customer experience, aiming to further accelerate the development of the worldwide payment landscape as well.
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