Oslo, Norway - 08 November 2021 - IDEX Biometrics ASA announced today that the
latest biometric smart card from their solution partner Hengbao Corporation Ltd
has been approved for certification by China UnionPay (CUP). The new card which
incorporates IDEX Biometrics' sensor and biometric software solution passed all
required testing by China's Bank Card Test Center (BCTC), confirming compliance
with China UnionPay requirements and international interoperability standards.
BCTC is the independent agency responsible for compliance testing on behalf of
China UnionPay. The certification enables Hengbao to proceed with its
manufacturing and distribution plans with major card issuers in China. This
innovative card will enable multi-use applications, securing global payments and
new functionalities such as access control and personal identification - all in
one card.
China UnionPay is the largest payment network in the world, with 9.4 billion
cards in circulation. IDEX Biometrics' card solutions have been certified by the
top three global payment networks, VISA, MasterCard, and China UnionPay.
Combined, these three networks process 90% of all global card payments,
according to RBR.
Commenting on the significance of this announcement, Vince Graziani, Chief
Executive Officer of IDEX Biometrics, stated, "We take great pride in the
confidence Hengbao and its banking partners have shown in IDEX Biometrics by
selecting our fingerprint authentication solution for this innovative new
product. Through tight integration of our proprietary matching algorithm with
the THD89 secure element from Tongxin Microelectronics Co., Ltd., this new card
provides industry-leading authentication performance, addressing needs for
security, speed, and hygiene. The enhanced multi-use card will be an important
step in the broader adoption of biometrically-enabled smart cards in China.
For further information contact:
Marianne Bøe, Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: +47?9180 0186
Brett L Perry, U.S. Investor Relations
E-mail: bperry@sheltongroup.com
Tel: + 1 214 272 0070
About IDEX Biometrics
IDEX Biometrics ASA (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
(https://www.globenewswire.com/Tracker?data=0tQgpjLm71cPPP9wS_Gofz71z979cX7LAvzW
TIYY8zyJoM7faR_COVtkxBTZdAj-Ru34oQcVjyiazg0jwk-D0Bg2Zqs1XZdVfQemwoUG6y0=)
TRADEMARK STATEMENT
IDEX, 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.