IDEX Biometrics’ technology certified by an additional global payment network
Oslo, Norway, 16 April 2020: IDEX Biometrics ASA, a leading provider of advanced fingerprint identification and authentication solutions, today announced that its dual interface technology has been included in a recently certified biometric payment card. The certification was achieved with our partner, a leading European headquartered tier 1 payment card manufacturer. This is the second certified biometric payment card that includes IDEX’s technology, the other being issued on the China UnionPay network.
This certification is another critical milestone for IDEX. Its complete biometric solution, including sensor, software and matching algorithm, are now certified for biometric payment cards available on two leading global payment networks. IDEX is the only fingerprint company to have achieved certification for its system solution with two global payment networks. These networks between them represent 70% of the global brand general purpose payment cards. The certifications enable the transition from the pilot phase to commercialization and broad market adoption of biometric payment cards. The total addressable market for biometric payment cards is 8.2 billion units and growing.
IDEX Biometrics CEO, Vince Graziani commented, “This is another significant achievement for IDEX as it validates that our technology has passed the stringent certification requirements from multiple major global payment schemes. Certified payment cards including IDEX’s technology are now available for commercial launches globally.”
For further information contact:
Marianne Bøe, Investor Relations
Tel: + 47 918 00186
Derek D’Antilio, Chief financial Officer
Tel: +1 197 827 31344
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX and OTCQB: IDXAF) 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, unlock devices or gain admittance to buildings 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 and follow on Twitter @IDEXBiometrics
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act