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IDEX and Goldpac partner on biometric cards for China

IDEX Biometrics is partnering with Goldpac Group to launch dual-interface biometric smart cards to customers in China and beyond. According to the announcement, Goldpac is one of the five largest card integrators globally, and the only secure payment solution provider in China to hold simultaneous certifications by China UnionPay, VISA, MasterCard, American Express, JCB and Diners.

“It’s beyond doubt that the market for biometric cards will ramp significantly in 2019,” said Stan Swearingen, CEO of IDEX Biometrics. “During the second half of 2018 a vast range of card integrators have geared up their efforts to commercialize biometric cards which will provide simple, secure and personal authentication for all. We see especially strong pull in China, and we are extremely pleased to be working with a market leader such as Goldpac.”

“We are pleased to be partnered with IDEX, the leading provider of fingerprint identification and authentication solutions and we are looking forward to deploying biometric smart cards in 2019,” added Mr. WU Siqiang, COO at Goldpac.

This announcement follows yesterday’s news that IDEX had completed a private placement of US$25 million which the company will use to meet capital and operational requirements, and expects to carry it to profitability as biometric payment cards are adopted.

IDEX is working towards the mass deployment of its sensors on biometric payment cards, which Swearingen recently told Biometric Update will likely begin this year. The company says it is ideally positioned to capture a large share of this market, which Goode Intelligence forecasts will surpass 575 million units by 2023.

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