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.
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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.
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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.
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