IDEX Biometrics ASA is initiating a biometric payment card program with a UK issuer and processor of EMV compliant payment cards. This issuer is a well-established B2B solution provider with a strong portfolio of fintechs and banks across the UK, Europe, and North America. These biometric payment cards are estimated to be in consumer hands by Q1 2023.
Europe is experiencing a continued significant increase in card transactions of 17.3%, reaching 56.3 billion in 2021, which represents a large and growing market potential2. IDEX Biometrics is partnering with key card solution providers in Europe and has recently partnered with one of the leading smart card manufacturers in the UK to enable this opportunity.
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“We are excited to bring the IDEX Biometrics platform solution for biometric payments cards to the UK market. Market surveys confirm that 70% of UK consumers would use a biometric payment card, giving them additional peace of mind in times of increased contactless limits3. As we bring our proprietary and innovative technology platform to market, IDEX Biometrics contributes to more seamless digital payment experiences around the globe”, says Catharina Eklof, Chief Commercial Officer at IDEX Biometrics.
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About IDEX Biometrics
IDEX Biometrics 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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