Major Distribution Effort Gets Underway for IDEX Biometric Card

IDEX Biometrics has announced another important milestone in the commercialization phase of its biometric payment card solution: One of the biggest smart card manufacturers in South Asia is starting the production of cards featuring its fingerprint-scanning solution across the region and globally.

IDEX says the deployment will help to further fuel its expansion across the Asia Pacific region, the Middle East, Africa, and the USA. The partner, which has not yet been named publicly, has produced over 3 billion cards to date, and has a production capacity of 25 million cards per month.

The biometric cards being deployed by this partner are expected to reach the market by the end of this year.

“This is another testament to IDEX Biometrics strategic focus and expansion in Asia,” said IDEX’s Chief Commercial Officer, Catharina Eklof. “The recognized technology expertise in smart card manufacturing from this innovative partner will further strengthen our positioning and bank reach in South Asia, with a growing market opportunity across both payment and access card solutions.”

IDEX has seen a rising profile in the payment and smart cards market thanks to its IDEX Pay and IDEX Access solutions, both of which revolve around the integration of a fingerprint sensor in a traditional card format. The aim is to add an extra layer of security by introducing biometric authentication to card-based transactions—while also reducing friction by eliminating the need to enter a PIN, and thereby improving convenience for the end user.

It’s a pioneering solution in a new segment of the cards market, and has required years of R&D and strategic planning. But at the start of last year, IDEX reflected that 2022 had been “an inflection point in the biometric payment card market,” and it went on to report that manufacturing partners were “quickly mobilizing” its IDEX Pay solution in a Q3 update, which also charted higher revenues and reduced expenses.

–

May 10, 2024 – by Alex Perala