IDEX partners with global payments firm to develop biometric payment card
IDEX ASA announced it has partnered with an undisclosed global payments firm to develop a worldwide biometric payment card program.
The company has already successfully demonstrated its fingerprint swipe sensor technology on thin flexible ISO-compliant cards.
IDEX’s patented off-chip technology enables a bendable fingerprint sensor that is ideal for smart card integration.
Using proprietary matching algorithms, IDEX’s sensors are able to operate in small, secure processors, adhering to international EMV payment security regulations and maintaining the fingerprint image on the card.
IDEX will use its existing touch and swipe sensor platform technology that is currently being tested for the mobile market.
“We are very pleased to have been selected for this global company biometric card initiative enabled by our compelling low cost, turnkey fingerprint sensor solutions,” said Dr. Hemant Mardia, CEO of IDEX. “The program will commence development during 2015. This partnership is expected to enable IDEX to secure a leading position in this emerging mass market for fingerprint sensor based biometric cards.”
IDEX ASA recently made several announcements, including the appointments of two senior executives and completing a global reorganization of the company to strengthen its customer focus and ensure commercial execution of the product roadmap.