Oslo, Norway - 22 November 2023 - IDEX Biometrics has received an initial order
for IDEX Pay from a smart card manufacturing partner in Asia who will deploy
biometric metal payment cards for their bank clients world-wide. Cards produced
from this order are expected to reach customers during the first quarter of
2024.
With an annual production capacity of more than 30 million cards, this card
manufacturer specialises in serving banks globally with a suite of full metal
cards, and is certified by Visa, Mastercard and other major payment schemes.
With a total market size of 40 million cards in 2023(1), the metal card segment
is expanding amongst premium customers across Europe (44% projected YoY growth)
Latin America (61%) and the dynamic economies of Asia outpacing with 103%. 70%
of millennials declare preferring metal cards(2). Biometric metal cards are
expected to revolutionize premium card programs, with strong demand from banks
in APAC, Eastern Europe and South America.
IDEX Biometrics differentiated and optimized reference design, IDEX Pay, is
particularly well suited for metal cards. Additionally, IDEX Biometrics enables
manufacturing partners with product and implementation guidelines.
"Bringing true innovation to the affluent customers banking segment will
accelerate biometric metal card market penetration," said Catharina Eklof, Chief
Commercial Officer at IDEX Biometrics. "Premium banking customers seek seamless
payments solution when travelling and in their daily lives. Smoother payments
contribute to transaction and retention increase, critical to banks in today's
competitive payment landscape."
(1) ABI Research AN-5913 ; 2 G+D Metal Cards Report 2022; expected CAGR
2021-2025
For further information contact:
Marianne Bøe, Head of Investor Relations
E-mail: marianne.boe@idexbiometrics.com
Tel: + 47 918 00186
About IDEX Biometrics
IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint
biometrics, offering authentication solutions across payments, access control,
and digital identity. Our solutions bring convenience, security, peace of mind
and seamless user experiences to the world. Built on patented and proprietary
sensor technologies, integrated circuit designs, and software, our biometric
solutions target card-based applications for payments and digital
authentication. As an industry-enabler we partner with leading card
manufacturers and technology companies to bring our solutions to market.
For more information, visit www.idexbiometrics.com
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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.