Oslo, Norway, 1 April 2020: IDEX Biometrics ASA, a leading provider of advanced
fingerprint identification and authentication solutions, is proud to announce
that its dual interface technology is included in FEITIAN Technologies Co.,
Ltd.'s certified biometric contactless payment card solution. FEITIAN is one of
the world's leading suppliers of smartcard operating system and digital security
system solutions serving more than 200 banks and 6,000 customers in over 100
countries. This is the first biometric payment card in the world to successfully
complete the Bank Card Testing Center (BCTC) testing to China UnionPay
requirements. UnionPay (also known as CUP or UPI) is the world's largest card
network with more than 7 billion cards issued.
The certification was conducted by the BCTC in Beijing, a widely accredited
international third-party testing and certification facility. The certification
process included testing for card structure robustness, security and biometric
performance, and IDEX's hardware, software and algorithm were an essential part
of this process. This is a critical, and very difficult milestone that IDEX and
FEITIAN achieved and it verifies the readiness of the solution and enables any
issuer to work with FEITIAN to issue China UnionPay cards, paving the way for
broad market adoption.
IDEX and FEITIAN have a strategic partnership which includes an exclusive
agreement for the sale of biometric payment cards. IDEX Biometrics's CEO, Vince
Graziani commented, "This is a significant achievement for IDEX and our partner
FEITIAN to have the first biometric payment card tested by BCTC to the China
UnionPay specification. UnionPay is the highest volume payment card network in
the world. This certification is the result of over a year's collaboration and
work between IDEX and FEITIAN and represents a major milestone on the path to
global adoption of biometric payment cards." Vince continued, "The total
addressable market for biometric payment cards is 8.2 billion units and
growing."
Yan Yan, Vice President of Product at FEITIAN commented, "We are pleased to be
the first card manufacturer to have a biometric payment card tested to China
UnionPay's exacting standards. Our ability to complete this major milestone
validates our decision to choose the IDEX solution and is an important step in
our continued cooperation. We are looking forward to the next phase of moving to
commercialization of biometric smartcards for our new and existing customers."
For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com (mailto:marianne.boe@idexbiometrics.com)
Tel: + 47 918 00186
Derek D'Antilio, Chief financial Officer
E-mail: derek.dantilio@idexbiometrics.com
(mailto:derek.dantilio@idexbiometrics.com)
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
(http://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