IDEX Biometrics and Turkish issuer to launch biometric payment cards in response to strong consumer demand
Oslo, Norway – 25 July 2022 – IDEX Biometrics ASA initiated its first project in Turkey with an issuer to launch biometric payment cards for the local market. Cards from this issuer are estimated to be in consumer hands by Q1 2023.
This partnership follows a previously announced partnership in Turkey with leading card manufacturer, E-Kart. Turkey is one of the most innovative and largest payment card market globally and demonstrates great opportunity with 240 million cards in circulation and 1.8 million acceptance locations.
“We are pleased to bring the IDEX Biometrics platform solution for EMVCo compliant biometric payments cards to market in Turkey. A recently published market survey commissioned by IDEX Customer Lab, reveals 86% of consumers in Turkey consider biometric payment cards very convenient, and 82% would use a biometric payment card if it were available to them. As we expand the reach of our proprietary and innovative technology, we contribute to enhancing digital banking experiences and securing digital authentication across a variety of payment and digital authentication use cases”, says Catharina Eklof, Chief Commercial Officer at IDEX Biometrics.
Sources: IDEX Customer Lab Research, Arlington Research
For further information contact:
Marianne Bøe, Head of Investor Relations
Tel: + 47 918 00186
Brett L Perry, U.S. Investor Relations
Tel: + 1 214 272 0070
About IDEX Biometrics
IDEX Biometrics (OSE: IDEX and Nasdaq: IDBA) is 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.
For more information, visit www.idexbiometrics.com
The wordmark “IDEX”, “IDEX Biometrics”, “TrustedBio” and the IDEX logo are trademarks owned by IDEX Biometrics ASA. The Contactless Indicator mark, consisting of four graduating arcs, is a trademark owned by and used with permission of EMVCo, LLC. All other brands or product names are the property of their respective holders.