IDEX Biometrics receives volume production order as IDEMIA accelerates biometric payment card expansion
Oslo, Norway – 16 November 2022 – IDEX Biometrics ASA has received a volume production order from its partner IDEMIA, representing the largest order to date for IDEX TrustedBio sensors. The order represents more than USD 2 million in revenue for IDEX and will begin shipping in Q1 2023. IDEX and IDEMIA are seeing market acceleration for biometric payment cards, and in early November the two companies announced a full-scale biometric card program by a major bank in the UAE. IDEX Biometrics has also recently confirmed agreements with issuers in Turkey and in the UK for biometric card programs, anticipated to reach markets in the first half of 2023.
”This order from our partner IDEMIA reflects the increasing demand for biometric payment cards powered by IDEX Biometrics TrustedBio technology. IDEMIA has come to market with a superior solution which is gaining traction as banks begin to launch large-scale biometric card programs globally”, comments Vince Graziani, CEO of IDEX Biometrics.
For further information contact:
Marianne Bøe, Head of Investor Relations
Tel: + 47 918 00186
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
IDEX, TrustedBio, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act