IDEX biometric smartcard approaching certification and commercial bidding
IDEX delivered a presentation at the DNB Small and Medium Enterprise Conference in Oslo, Norway on Wednesday, laying out its position in the biometric payment card market, and its expectations for the market’s development.
The presentation was delivered by IDEX CFO Henrik Knudtzon and incoming CEO Stan Swearingen, who becomes chief executive effective April 1.
The executives reviewed shipment numbers for smartcards, which are expected to grow from 4.38 billion in 2017 to 4.64 billion this year, and reiterated the company’s position as an early market mover. IDEX detailed its expectations for the commercial rollout of its biometric card collaboration with Mastercard, including the prediction that the certification process for its contact-based solution to be completed in Q2 2018, and that the commercial bidding process for end customers will begin the same quarter. Proof of concept pilots for contactless cards are expected in the first half of the year.
The company is also holding meetings with investors and analysts at the event.
IDEX said the biometric card market had reached an inflexion point when it announced its full-year 2017 results in February.