IDEX Biometrics has achieved a new milestone with the Visa certification of its IDEX Pay biometric card solution. The certification, obtained on August 26, 2024, confirms that IDEX Pay meets Visa’s stringent functional and security specifications, ensuring the solution is ready for large-scale commercialization within the Visa payment network.
The certification process involved comprehensive biometric performance testing, validating the solution’s compliance with the highest standards in the payment industry.
The IDEX Pay solution features IDEX Biometrics’ proprietary card operating system, a fingerprint sensor, and Infineon’s secure SLC38 element. With Visa’s certification, IDEX Pay can now be deployed across Visa’s extensive network, which includes more than 3 billion cards in circulation and dominates key growth markets in regions such as APAC, Latin America, and Africa.
Already certified by Mastercard, IDEX Pay is also progressing with multiple card manufacturers toward completing their Mastercard Letter of Approval. With Visa and Mastercard representing 64 percent of the 687 billion annual payment transactions globally, IDEX Pay aims to become a major solution in the biometric payment card industry.
“IDEX Biometrics is spearheading the industry, being among the first to deploy a certified biometric solution based on the Visa payment applet,” said Catharina Eklof, Chief Executive Officer at IDEX Biometrics. “We are hereby affirming our biometric solution’s compliance with highest security and functionality standards to card manufacturers and banks worldwide.”
Earlier this year, IDEX announced that it had received a production order from Beautiful Card Corporation (BCC) following BCC’s approval from Mastercard to globally issue and deploy biometric payment cards based on the IDEX Pay platform. Through that deal, BCC would incorporate IDEX Pay’s biometric technology into its sustainable card solutions.
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August 26, 2024 – by Tony Bitzionis
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