Mastercard Approves Biosmart and IDEX Biometrics’ Fingerprint Payment Cards for Global Use

Biosmart, in collaboration with IDEX Biometrics, has announced the receipt of a Letter of Approval (LoA) from Mastercard for its biometric payment cards, specifically the IDEX Pay platform. The approval paves the way for the global issuance and deployment of biometric cards, representing a significant milestone in the adoption of advanced payment technologies.

This development follows IDEX Biometrics’ recent strategic progress and restructuring under new CEO Catharina Eklof, as highlighted in its Q3 2024 financial report.

The IDEX Pay biometric cards incorporate fingerprint sensors integrated with Infineon’s SLC38 secure element. This combination ensures robust security and functional performance, as certified by Visa via the VBSS biometric payment application. The fingerprint sensor technology provides a secure and convenient method for authentication, eliminating the need for traditional PINs or signatures.

The collaboration between IDEX Biometrics and Infineon has been ongoing, with the companies previously announcing a jointly-developed reference design for next-generation payment cards.

The approval from Mastercard indicates a high level of confidence in the technology and its potential to enhance the security and convenience of payment transactions. It also aligns with Mastercard’s ongoing efforts to support the commercialization of biometric smart cards, as seen in previous approvals for companies like KONA I and Fingerprint Cards.

Source: IDEX Biometrics

–

November 25, 2024 – by the ID Tech Editorial Team

Related News

Partners

FaceTec’s patented, industry-leading 3D Face Verification and Reverification software anchors digital identity, creating a chain of trust from user onboarding to ongoing authentication on all modern smart devices and webcams. FaceTec’s 3D FaceMaps™ finally make trusted, remote identity verification possible. As the only technology backed by a persistent spoof bounty program and NIST/iBeta Certified Liveness Detection, FaceTec is the global standard for 3D Liveness and Face Matching with millions of users on six continents in financial services, border security, transportation, blockchain, e-voting, social networks, online dating and more. www.facetec.com

AuthenticID provides 100% automated identity verification and fraud detection solutions that are leveraged by companies worldwide, including 2 of the top 3 U.S. Banks, 8 out the top 10 wireless providers in North America, and 2 of the 3 credit bureaus. Using proprietary computer vision and machine learning technology, these solutions help companies accurately verify the identity of their users across retail, digital and call center environments for onboarding and ongoing re-authentication events; KYC, IAM, and more. The solutions are easy to integrate and provide customers a large ROI by stopping fraud losses, increasing customer conversion at onboarding, reducing operational costs and allowing quick and cost-effective operational scalability, all while ensuring global privacy regulations are complied with. https://www.authenticid.com/

Anonybit is a privacy-focused technology platform that provides decentralized solutions for securing personal data, particularly biometric information. Rather than storing sensitive data in centralized repositories, which are vulnerable to breaches, Anonybit uses a distributed architecture that breaks data into smaller encrypted bits and stores them across a network of decentralized nodes. This approach ensures that no single entity has access to the full dataset, enhancing privacy and security, even preventing insider threats. Anonybit is used by leading banks, fintechs and other enterprises for critical biometric identity functions like deduplication and blocklist checks, step up authentication, passwordless login and account recovery https://anonybit.io/

Identity Week aims to be a significant identity industry catalyst. It’s our mission is to help accelerate the move towards a world where trusted identity solutions enable governments and commercial organisations to provide citizens, employees, customers and consumers with a multitude of opportunities to transact in a seamless, yet secure manner. All the while preventing the efforts of those intent on doing harm. https://identityweek.net/

The Biometric Digital Identity Prism is a market landscape framework designed to help influencers and decision makers understand, innovate, and implement digital identity technologies and solutions. This innovative framework for understanding and evaluating the rapidly evolving biometric digital identity marketplace is the only market model that is truly biometric-centric based on the foundational conviction that in the age of digital transformation the only true, reliable link between humans and their digital data is biometrics. https://www.the-prism-project.com

ID R&D is an innovator of biometric facial liveness, document liveness, and voice biometrics. Ranked #1 by NIST, our patented passive approach to liveness, and specialized detection of voice clones, injection attacks and deepfakes, empowers KYC and authentication systems with fast, accurate and secure biometric verification technologies. Over 140 partners in more than 70 countries are collectively processing hundreds of millions of identity checks per year. ID R&D solutions easily integrate with mobile, web, messaging, smart speakers, set-top boxes, and IoT devices. Learn more: www.idrnd.ai

Related News

Footer

Follow Us